Strategic Hotels: Starwood rebuffs Marriott's $12B buyout offer in favor of Chinese group

Starwood called off a $12.2 billion buyout agreement with Marriott in favor of an offer from a group of investors led by the Chinese insurance company Anbang.The decision came after Anbang upped its offer for Starwood by nearly $370 million Friday, bringing the total to more than $14 billion....