NEW YORK (TheStreet) -- Marriott (MAR) - Get Report stock is declining by 5.37% to $67.36 in after-hours trading on Thursday, as an investor group led by Chinese insurer Anbang is withdrawing a takeover bid of $14 billion for hotel operator Starwood (HOT), sources told the Wall Street Journal.
Starwood will now return to Marriott's most recent acquisition offer for the company, which valued Starwood at $79.53 a share, or $13.6 billion, according to the Journal.
In November Marriott and Starwood agreed to a merger worth $12.2 billion at the time. Anbang then countered Marriott's initial proposal, setting off a bidding war between the two companies.
A combination of Marriott and Starwood would create the world's largest hotel chain, with more than 1 million rooms and 30 brands.
Separately, TheStreet Ratings team rates the stock as a "buy" with a ratings score of B-.
Marriott's strengths such as its growth in earnings per share, revenue growth, good cash flow from operations and increase in net income outweigh the fact that the company has had lackluster performance in the stock itself.
You can view the full analysis from the report here: MAR
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.