10:26 AM EDT, 03/11/2024 (MT Newswires) -- (Updates with Wyndham Hotels comment in the fifth paragraph and the latest stock movement in the sixth paragraph.)

Choice Hotels International ( CHH ) said Monday its offer to acquire all of the issued and outstanding shares of Wyndham Hotels & Resorts ( WH ) expired on Friday.

The company is also withdrawing its nomination of independent directors for Wyndham's board, Choice Hotels ( CHH ) added.

No shares of Wyndham were bought by Choice Hotels' ( CHH ) WH Acquisition Corp. unit, according to Choice Hotels ( CHH ).

Meanwhile, Choice Hotel said its board has approved an increase of shares authorized under its stock buyback plan by 5 million shares. The company now has roughly 6.8 million shares authorized to be repurchased, it added.

"The Wyndham Board is pleased that Choice has ended its hostile pursuit and proxy contest, following the expiration of its unsolicited exchange offer," Wyndham Chair Stephen Holmes said in a statement Monday.

Shares of Choice Hotels ( CHH ) were up 4.6% in recent trading, while Wyndham Hotels was 0.1% higher.

Price: 126.66, Change: +5.63, Percent Change: +4.59