Marriott International has concluded a $12.2 billion deal to buy rival hotel chain Starwood, which will give the combined group over a million rooms worldwide. The mega merger unveiled Monday will create the world’s largest hotel company with over 5,500 hotels. Marriott’s enlarged footprint outside the U.S. As part of the latest deal, Marriott will forward 0.92 of a share plus $2 in cash for each Starwood share,for a total of $11.9 billion in stock and $340 million in cash. This translates to $72.08 per share for Starwood, a discount of about 4% to the stock’s Friday close. Starwood shareholders also get…
Marriott Unveils $12.2 Billion Merger Deal With Starwood
Mani
Mani is a Senior Financial Consultant. He has worked in Senior Management role in large banking, financial and information technology organizations. He has provided solutions for major banking and securities firms across the globe in the area of retail, corporate and investment banking. He holds MBA (Finance) and Professional Management Accounting Qualifications. His hobbies are tracking global financial developments and watching sports