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NEW YORK (TheStreet) -- Starwood Hotels & Resorts (HOT) stock is rising 4.59% to $79.90 in pre-market trading on Friday after signing a deal to be acquired by Chinese insurer Anbang for $78 per share in cash, CNBC reports. 

Today's agreement comes after Starwood agreed to merge with Marriott (MAR) in November in a deal valued at $12.2 billion.

Marriott has five days to respond, and will make a counter-bid, sources told CNBC. 

Marriott stock is up 1.32% to $72.75 in pre-market trading.

Separately, TheStreet Ratings team rates the stock as a "buy" with a ratings score of B-.

Starwood's strengths such as its reasonable valuation levels and largely solid financial position with reasonable debt levels by most measures. We feel its strengths 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. 

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