Starwood is giving Marriott until March 28 to submit a counteroffer. Starwood canceled a shareholders meeting for March 28 to vote on the Marriott agreement, while Marriott said Friday that it may cancel its March 28 shareholders meeting. In a statement on Friday, Marriott said, "Marriott continues to believe that a combination of Marriott and Starwood is the best course for both companies and offers the best value to Starwood shareholders. Marriott is in the process of reviewing the Anbang consortium's proposal and is carefully considering its alternatives." Starwood agreed to be acquired by Marriott in November. While the value of that buyout was estimated at about $12.2 billion at the time ($70.08 per Starwood share in Marriott stock and $2 per Starwood share in cash), Starwood said Friday that the value of Marriott’s proposed buyout has fallen to $65.33 per Starwood share, or about $11 billion, because Marriott’s stock price has fallen in the past five months. Get the full story at Travel Weekly Read also "Will Marriott increase its Starwood offer?" at Travel Weekly and "What will be Marriott's next move in Starwood sale saga?" at Travel Weekly