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[Starwood] today announced that it has received a revised binding and
fully financed proposal from a consortium consisting of Anbang Insurance Group Co., Ltd., J.C. Flowers & Co. and Primavera Capital Limited (the «Consortium»), that the Starwood Board of Directors, in consultation
with its legal and
financial advisors, has determined constitutes a «Superior Proposal,» as defined in Starwood's merger agreement
with Marriott International, Inc..