JMP Securities Downgrades Starwood Hotels & Resorts (HOT) to Market Perform
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Marriott (MAR) to Acquire Starwood Hotels (HOT) in $12.2B Deal
November 16, 2015 6:05 AM ESTMarriott (NASDAQ: MAR) and Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) announced that the boards of directors of both companies have unanimously approved a definitive merger agreement under which the companies will create the world's largest hotel company. The transaction combines Starwood's leading lifestyle brands and international footprint with Marriott's strong presence in the luxury and select-service tiers, as well as the convention and resort segment, creating a more comprehensive portfolio. The merged company will offer broader choice for guests, greater opportunities for associates and should unlock additional value for... More
