Shareholders of both Marriott International and Starwood Hotels & Resorts Worldwide Inc. have approved Marriott’s $14.41 billion acquisition of Starwood, according to The Washington Post. Starwood stockholders will receive 0.8 shares of Marriott common stock at closing plus $21.00 in cash for each share of Starwood common stock.

The deal will create the world’s largest hotel chain with 5,500 properties (over 1.1 million rooms) around the world. Hilton Worldwide would be the next largest hotel company with 4,500 properties (735,000 rooms).
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The US has already approved the merger but EU and Chinese approval are still pending.

Last Updated on April 8, 2016 by Ramin Seddiq