Saturday , August 18 2018

Tag Archives: marriott

World’s largest hotel company to form after stockholders vote

Marriott International and Starwood Hotels & Resorts Worldwide have announced that at separate special stockholder meetings the stockholders of both companies approved proposals relating to Marriott’s acquisition of Starwood. Holders of over 97 percent of Marriott shares present and voting at the meeting, representing over 79 percent of outstanding shares, voted in favour of a proposal to issue shares of …

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Anbang drops competing Starwood bid

Last week, Marriott secured its bid by increasing its offer 10 percent to $13.6 billion

Definitely not an April Fool’s joke, Anbang Insurance revealed on April 1 that it “has determined not to proceed” with its bid for Starwood against Marriott. The consortium involved issued the following statement: “We were attracted to the opportunity presented by Starwood because of its high-quality, leading global hotel brands, which met many of our acquisition criteria, including the ability …

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Marriott wins Starwood bid with new offer

Marriott talks Starwood merger

After increasing its offer 10 percent to $13.6 billion, Marriott International will officially merge with Starwood Hotels and Resorts Worldwide, undermining a surprise cash bid lodged byAnbang Insurance Group (and others) last week. The world’s largest hotel company is set to become a reality after all, according to statements released this week, and Starwood’s termination fee has been raised to $450 …

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