Business Report: 3/21/16 - Hawaii News Now - KGMB and KHNL

Business Report: 3/21/16

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Marriott will acquire Starwood after all. The Anbang group of China had topped its offer, but Marriott came in with an offer of cash and stock that amounted to better than $83 a share, way better than any of the earlier offers.  The new announcement does NOT mention giving Anbang any chance to counterbid again.

Hawaiian Electric says it has still not gotten adequate assurances that Hu Honua can deliver a working biomass plant on the Big Island. Hu Honua says it was delayed by litigation but that's now settled and it's fully funded. The plant is about half done. The PUC is being asked to resolve this.

American investors are inserting themselves into the battle over possible Japanese control of the company making Honolulu railcars. Hitachi wants to buy Ansaldo Breda, but minority shareholders think the price is too low, and the Elliott investment group has now taken a 29% stake itself, a new hurdle for Hitachi. Honolulu rail execs seem to be pulling for Hitachi to win this.

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