Behind China's $100 billion shopping spree
World BusinessApr 1, 2016
China’s Anbang Insurance Group Co., which has twice sweetened its offer to buy Starwood Hotels & Resorts Worldwide Inc., is engaged in a high-stakes bidding war with Marriott International Inc. to acquire the owner of the upscale Sheraton, Westin and St. Regis brands.Win or lose, the latest $14 billion bid unveiled Monday by an Anbang-led investor group makes this much clear: Chinese companies have launched an unprecedented buying spree, one far more ambitious than previous efforts focused prima