Marriott and Starwood merger date set for September 23
- Filed under News
- Posted on Wednesday, 21 September 2016 23:40
- By Zac Erawan
Marriott and Starwood Merger Date Announced
The Marriott International and Starwood Hotels & Resorts merger has received the green from the Chinese Ministry of Commerce, clearing its last regulatory hurdle. Both parties now expect to close the deal before the markets open on September 23, 2016 – underscoring Marriott’s status as the world’s largest hotel company.
Upon closing the deal, Starwood will cease trading on the NYSE. As announced, its shareholders will receive $21 in cash and 0.80 shares of Marriott, for each Starwood stock. They also stand to receive Marriott’s quarterly cash dividend of $0.30 per share, which was announced on September 13, 2016 – payable to all its shareholders on September 23, 2016. This negates the dividend announced for Starwood’s (former) shareholders on September 13, 2016 – who will now receive their due along with Marriott’s shareholders, on September 30, 2016.
Marriott and Starwood merger date set for September 23
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Zac Erawan
Owner at NewThaiHotels
Hotel Otaku. Hotel reviewer. Aspiring photographer. Xenodocheionologist.
Zac fuses his lifelong passions for 1. Beautiful Hotels & Resorts, 2. Thailand and 3. Website Design to bring NewThaiHotels to life, sharing the latest information on new and exciting luxury hotel openings in stunning tropical Thailand.
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