trending Market Intelligence /marketintelligence/en/news-insights/trending/KIUwxUcV2Uf7OUO9c6noyg2 content esgSubNav
In This List

Marriott, Starwood shareholders OK merger

CASE STUDY

Deep Market Intelligence Helps a Credit Union Craft a Successful Expansion Plan

Blog

Global M&A By the Numbers: Q1 2022

Blog

Data Stories: Data insights to help alleviate business complexity amid geopolitical risks

Blog

M&A, IPOs hit a speed bump in early 2022


Marriott, Starwood shareholders OK merger

Shareholders of MarriottInternational Inc. and StarwoodHotels & Resorts Worldwide Inc. voted April 8 to approve the proposedmerger of the companies.

Holders of more than 97% of Marriott shares present and votingat the meeting, representing more than 79% of outstanding shares, voted in favorof a proposal to issue shares of Marriott common stock in connection with the transaction.Holders of more than 95% of Starwood shares present and voting at the meeting,representing more than 63% of outstanding shares, voted in favor of a proposal toapprove the transaction.

At closing, Starwood stockholders will receive 0.8 shareof Marriott common stock plus $21.00 in cash for each share of Starwoodcommon stock.

Closing of the merger is expected in mid-2016, pending completionof Starwood's planned divestiture of its timeshare business, expected on oraround April 30; obtaining remaining regulatory approvals, including in the EuropeanUnion and China; and the satisfaction of other customary closingconditions. The parties have cleared the premerger antitrust review in the UnitedStates and Canada and multiple other jurisdictions.