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Wyndham Worldwide to buy La Quinta for $1.95B

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Wyndham Worldwide Corp. (NYSE: WYN) signed on to purchase La Quinta Holdings Inc. (NYSE: LQ) for $1.95 billion in cash.

Wyndham will pick up La Quinta's hotel franchises and hotel management business in the deal expected to close in the second quarter.

La Quinta's portfolio comprises nearly 900 managed and franchised hotels.

Read more from PRNewswire.

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