Saturday February 22, 2020

Starwood Hotels accepts higher offer from Marriott

Marriott's improved bid for the owner of the Sheraton and Westin hotel groups is valued at $13.6 billion

21st March, 2016
Sheraton is Starwood's flagship brand Pic: Getty

The Marriott-Starwood deal will create the world's largest hotel chain with top brands including Sheraton, Ritz Carlton and the Autograph Collection. Marriott in November offered $12.2 billion, or $72.08 per, for Starwood.

Starwood shareholders will own about 34 per cent of the combined company’s common stock after the merger is completed, based on current shares outstanding.

Starwood, owner of brands such as Westin which operates a five-star hotel on Dublin's Westmoreland Street, received an unsolicited takeover...

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