怎么样确定这个which引导的非限定性定语从句的先行词

Investors led by China’s Anbang Insurance offered $12.8 billion in cash for Starwood Hotels Resorts Worldwide, owner of brands including Sheraton, Westin and W. The bid threatens to upset Marriott’s $11 billion, cash-and-shares takeover, which would create the world’s biggest hotel chain.

请问：which 的先行词是什么？

Investors led by China’s Anbang Insurance offered $12.8 billion in cash for Starwood Hotels Resorts Worldwide, owner of brands including Sheraton, Westin and W. The bid threatens to upset Marriott’s $11 billion, cash-and-shares takeover, which would create the world’s biggest hotel chain.

【答】which 指代前面整个主句的意思。The bid threatens to upset Marriott’s $11 billion, cash-and-shares takeover, which would create the world’s biggest hotel chain. 这句话的大意是：该投标大概推翻万豪的110亿USD的现金和股票回收，这将产生世界上最大的连锁酒店。