Marriott’s bid to buy Saga was not accepted.
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Bethesda-based Marriott said its $34-a-share offer for all of the outstanding stock of Saga Corp. was not accepted before its expiration Monday at 2 p.m. PDT. A Marriott spokesman said the hotel chain “is considering alternatives” but would not elaborate. Menlo Park, Calif.-based Saga, whose board had said it needed more time to evaluate the offer, said it “is continuing to study its financial and strategic alternatives.”
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