Marriott Vacations Worldwide Corp. said Sept. 1 that it completed the previously announced acquisition of ILG Inc. for about $4.6 billion.
According to the terms of the deal, ILG shareholders will receive 0.165 shares of Marriott and $14.75 in cash for each ILG share.
Marriott appointed former ILG board members Lizanne Galbreath and Stephen Quazzo to its board of directors. The appointments bring Marriott's board membership to 10.
Moelis & Co. LLC and Goldman Sachs & Co. LLC served as financial advisers to ILG. J.P. Morgan served as financial adviser to Marriott.
Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel to ILG and Kirkland & Ellis LLP served as legal counsel to Marriott.