Wyndham rejects Choice Hotels' $7.8 billion takeover bid

(Reuters) -U.S. budget hotel operator Wyndham Hotels and Resorts on Tuesday rejected rival Choice Hotels' $7.8 billion cash-and-stock acquisition offer, calling it "underwhelming" and citing regulatory risks around a possible combination. Wyndham's shares jumped as much as 13% to $78.48, but were well below the $90 per share offer price, which was at a 30% premium to the stock's close on Monday. Earlier on Tuesday, Choice Hotels went public with its offer to buy Wyndham after months-long private talks collapsed.