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Marriott CEO says would have loved to have won Starwood for less

Reuters
Marriott Chief Executive Arne Sorenson speaks during an interview with Reuters in a hotel in Berlin, March 3, 2015. REUTERS/Fabrizio Bensch

(Reuters) - Marriott International Inc (MAR.O) Chief Executive Arne Sorenson said the hotel group would have loved to have agreed on a lower price for Starwood Hotel & Resorts Worldwide Inc (HOT.N).

Speaking on CNBC a day after China's Anbang Insurance Group Co abandoned its $14 billion (10 billion pound) offer for the owner of the Sheraton and Westin brands, Sorenson said: "We would love to have (Starwood) for a billion dollars less, there's no doubt about that. But they were real with their first bid."

Anbang had raised its offer for Starwood twice before withdrawing on Thursday, paving the way for Marriott to buy the company for its latest offer of $13.6 billion.

Starwood and Marriott shareholders are scheduled to vote separately on the deal on April 8.

(Reporting by Sweta Singh in Bengaluru; Editing by Ted Kerr)