Marriott is ready to acquire Starwood

  • Published by Ozgur Tore

marriott starwoodMarriott International, Inc. and Starwood Hotels and Resorts Worldwide today announced they have received unconditional clearance from the European Union for Marriott to acquire Starwood in a merger transaction.  

In announcing the decision in a press release issued by the European Commission, the Commissioner for Competition, Margaret Vestager, said, “This is an important merger for the hotel industry and its customers. Our investigation confirmed that the hotel sector will remain competitive for customers in Europe following the merger, so I am pleased that the Commission was able to clear the transaction quickly."

The closing of the proposed merger is subject to obtaining additional antitrust clearances, including in China, and satisfying other customary closing conditions that are in the merger agreement. European Union clearance represents satisfaction of a major closing condition to the proposed merger.

Until legal close, the companies will continue to operate as separate and independent entities.

Stockholders of both Marriott and Starwood overwhelmingly approved proposals related to the transaction on April 8 and Marriott and Starwood anticipate closing the transaction in July 2016.


Most Read in this category since 01.01.2016

Prev Next


Best of Greek Islands with Celestyal Cruises

Best of Greek Islands with Celestyal Cruises

In Summer 2016, I had chance to sail to Greek Islands with the Celestyal Cruises. In an organization with Karavan Cruises, travelers enjoyed best of Greek islands with Celestyal and received a compl...

Unique and Luxurious Vacation Destination in Turkey: Cappadocia

Unique and Luxurious Vacation Destination in Turkey: Cappadocia

ftnNEWS would like to present you a unique vacation idea here in Turkey: Cappadocia Region. Located on the central Anatolia plateau within a volcanic landscape sculpted by erosion to form a successi...

Fascinating Tunisia

Fascinating Tunisia

Recently I have visited Tunisia as a familiarization trip organized by the Tunisia Tourism Ministry with the support of Tunis Air. Tunisia is not only a beach holiday destination. It also offers a r...