BUZZ-Playa jumps on entering exclusive deal talks with Hyatt

Reuters12-23 19:56
BUZZ-Playa jumps on entering exclusive deal talks with Hyatt

** Playa Hotels & Resorts PLYA.O shares rise 10.5% to $10.62 premarket

** Hyatt Hotels H.N in exclusive talks with Playa on strategic options, including a takeover

** Playa's market cap is $1.17 bln and Hyatt's is $15.35 bln

** Exclusivity talks until Feb 3 or a deal is struck, but there is no guarantee of any transaction happening, Co says

** Hyatt has a 9.99% stake in Playa

** Avg rating on PLYA is 'buy', with $12.50 median PT -LSEG data; Avg rating on Hyatt is 'hold' -LSEG data

** YTD, PLYA has risen ~11%, while H has jumped 22.6%

(Reporting by Abhinav Parmar in Bengaluru)

((Abhinav.Parmar@thomsonreuters.com;))

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