NEW YORK (TheStreet) -- Starwood Hotels & Resorts Worldwide (HOT) stock is tumbling by 3.81% to $80.25 in after-hours trading on Thursday, as an investor group led by Chinese insurer Anbang is walking away from its proposed takeover of the hotel operator, according to a report from Dow Jones Newswires.
Anbang had most recently proposed a takeover offer of $82.75 per share, or about $14 billion, after bidding back and forth with Marriott (MAR).
At the time, Starwood announced that Anbang's bid would likely lead to a "superior proposal" to Starwood's previous merger agreement with Marriott. This would have allowed Starwood to engage in discussions with and provide diligence information to the Anbang group.
Separately, TheStreet Ratings team rates the stock as a "buy" with a ratings score of B.
Starwood's strengths such as its solid financial position based on a variety of debt and liquidity measures that we have evaluated outweigh the fact that the company has had somewhat weak growth in earnings per share.
You can view the full analysis from the report here: HOT
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.