The merger transaction has received approval from the Chinese Ministry of Commerce, the last regulatory approval required to complete the merger.
Marriott and Starwood Stockholders vote to approve merger
Marriott and Starwood announced that at separate special stockholder meetings the stockholders of both companies approved proposals relating to Marriott’s acquisition of Starwood, which will create the world’s largest hotel company.
Marriott prevails as Anbang withdraws offer for Starwood
Starwood once again reaffirms its commitment to merge with Marriott, with the transactions expected to create $250 million in cost savings and significant revenue synergies.
Back on: Marriott and Starwood sign amended merger agreement
Starwood’s Board of Directors determined that revised terms from Marriott constitute a superior proposal compared to previously announced offer by Consortium led by Anbang Insurance Group.
Starwood receives “Superior Proposal”
Marriott has the right to submit a counterproposal until March 28, 2016, while the Starwood stockholder meeting has been postponed.
Marriott still keen on Starwood acquisition despite bigger rival offer
If Starwood terminates its merger agreement with Marriott, the company would be obligated to pay Marriott a $400 million termination fee in cash.
Marriott-Starwood merger: the impact on owners, franchisees and developers
Is bigger really better? With the loss of the Starwood family of brands as an independent and significant competitive force in the industry, the merger will bring mixed blessings to stakeholders.
