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China’s Anbang Insurance Group Co. has informed Starwood Hotels & Resorts Worldwide Inc. that it is withdrawing its $14 billion bid for the hotelier, according to people familiar with the matter.
Cara Operations Ltd. is in the final stages of negotiations to acquire Quebec-based restaurant chain Groupe St-Hubert for about 500 million Canadian dollars (US$385.6 million), according to a person familiar with the deal.