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Starwood called off a $12.2 billion buyout agreement with Marriott in favor of an offer from a group of investors led by the Chinese insurance company Anbang.Days before it contested Marriott for control of Starwood, it agreed to a $6.5 billion deal to buy Strategic Hotels & Resorts Inc., which owns several high-end properties including the JW Marriott Essex House in New York and Hotel Del Coronado in San Diego.Marriott has until March 28 to make another offer.Marriott first offered to buy Starwood in November, which would have created the world's largest hotelier.
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