Marriott & Starwood re-affirm their merger intentions
- Filed under News
- Posted on Wednesday, 16 March 2016 20:04
- By Zac Erawan
Offering stockholders significant equity upside and greater long-term value, Marriott International has reaffirmed its commitment to acquire Starwood Hotels & Resorts Worldwide Inc. Noting that the already announced merger deal is in the best interests of both the firms, Marriott said that it will work toward the successful integration of the two companies in anticipation of votes by each company’s stockholders on March 28, 2016.
On its part, Starwood stated that there was no change in the stand adopted by its Board of Directors in connection with the proposed merger with Marriott. The Board was studying the outcome of the talks with the consortium to work the future course of action. Earlier, both the companies had announced that they had satisfied the closing conditions pertaining to the merger.
The re-affirmations from both sides is most probably in response to a $13B takeover bid by a group of investors led by the Chinese insurance group Anbang.
Read the full article here: Marriott International reaffirms commitment to merge with Starwood Hotels & Resorts
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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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