Marriot To Buy Starwood Creating World S Biggest Hotel Company
Marriott International has just agreed to purchase Starwood Hotels and Resorts Worldwide for $12.2 billion in cash and stock, a move that will create the largest hotel company on the planet. The merger is likely to come as great relief to Starwood, whose stock has suffered over the last few years due to the changing of CEOs and talk of sale. The merger will be completed with $11.9 billion in stock and $340 million in cash: a transaction made almost entirely with the trade of equities....