Home Hotels & MICE Final approval for Marriott-Starwood merger

Final approval for Marriott-Starwood merger

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Way is finally clear for world’s largest hotel company
The way is finally clear to create the largest hotel company in the world. Marriott International has passed its final hurdle to merge with Starwood Hotels and Resorts Worldwide.
The last approval received was from the Chinese Ministry of Commerce. Marriott now expects to complete the $12.2 billion transaction before markets open on Friday.
The deal was first announced last November but faced opposition from Chinese consortium Anbang Insurance Group, which submitted a rival bid for Starwood. Anbang eventually dropped out, but Chinese regulators asked for 60 more days to review the merger.
Combined, Marriott and Starwood will have 1.1 million rooms and more than 30 brands.
USA Today

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