The Anbang group, which also includes J.C. Flowers & Co. and Primavera Capital Ltd., withdrew its nonbinding bid of $82.75 per Starwood share “as a result of market considerations," clearing the way for Marriott to buy Starwood (whose brands include Westin, Le Meridien, St. Regis, Sheraton, W and Aloft) and become by far the world’s largest hotel company. “We continue to be very excited about the combination of our two companies and are committed to completing this deal in an expeditious manner,” said Starwood Chairman Bruce Duncan in a statement. “We are confident Starwood stockholders will support a merger that will create the world’s best and biggest hotel company and which offers significant long-term upside for not only our stockholders, but also our company and associates." Marriott’s most recent buyout agreement, announced March 21, calls for Starwood shareholders to receive $21 in cash and 0.80 shares of Marriott Class A common stock for each share of Starwood common stock. At $77.94 per Starwood share, that values the buyout at about $13.3 billion. The agreement was previously estimated at $13.6 billion because of Marriott’s higher stock price at the time. Get the full story at Travel Weekly, Marriott and Starwood Read also "Starwood's Suitors: Marriott & Anbang Pros & Cons" at Business Travel News