Marriott/Starwood merger receives final approval
by Jane Kitchen | 21 Sep 2016
Starwood has more than 1,270 properties in 100 countries, and operates several hotel brands, including W
Hotel operators Marriott International and Starwood have received approval from the Chinese Ministry of Commerce on their merger – the last regulatory approval required.
The companies are expected to complete the merger transaction before the market opens on 23 September, making Marriott the world’s largest hotel company.
Starwood shares will cease trading at that time, and shareholders will receive US$21 in cash and .80 shares of Marriott International stock.
The merger was almost derailed earlier this year when a consortium led by Anbang Insurance Group pledged a higher price for Starwood; the consortium later withdrew its offer.
Marriott has more than 4,300 properties in 85 countries and territories, and operates and franchises hotels under The Ritz-Carlton, Bulgari, Edition, JW Marriott, Autograph Collection, Renaissance, Marriott, Delta brands and more. Starwood has more than 1,270 properties in 100 countries, and operates and franchises the St. Regis, The Luxury Collection, W, Design Hotels, Westin, Le Meridien, Sheraton, Four Points by Sheraton, Aloft, Element and the recently introduced Tribute Portfolio brands.
Marriott Starwood merger08 Apr 2016
Marriott and Starwood set to merge after green light from shareholders
01 Apr 2016
Anbang withdraws offer to buy Starwood
21 Mar 2016
Breaking: Starwood-Marriott merger back on again after Marriott ups its offer
18 Mar 2016
Starwood plans to end Marriott merger deal after ‘superior’ offer from Anbang
Hotel operators Marriott International and Starwood have received approval from the Chinese Ministry of Commerce on their merger – the last regulatory approval required. The companies are expected to complete the merger transaction before the market opens on 23 September, making Marriott the world’s largest hotel company. Starwood shares will cease trading at that time, and shareholders will receive US$21 in cash and.80 shares of Marriott International stock. The merger
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"Culture is the beating heart of this project"
Designed to restore neglected land and renew the identity of Iraq’s capital city, Baghdad Sustainable Forests promises a new way of living surrounded by nature. Gensler’s Ian Mulcahay tells us why he thinks the project could become a model for the repair and enhancement of urban centres
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