Raymond James Downgrades Starwood Hotels & Resorts (HOT) to Market Perform
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Statement by Marriott International, Inc. Regarding Proposed Starwood Merger Acquisition
March 18, 2016 9:11 AM EDTBETHESDA, Md., March 18, 2016 /PRNewswire/ --Â Marriott International, Inc. (NASDAQ: MAR) has been informed by Starwood Hotels and Resorts Worldwide (NYSE: HOT), and Starwood has announced publicly, that the Starwood Board of Directors has determined that it considers an Anbang consortium proposal to acquire Starwood to be a "Superior Proposal" to Marriott's existing merger agreement with Starwood.Â
Starwood has further informed Marriott that it intends to terminate the merger agreement with Marriott unless... More
Starwood Hotels & Resorts Determines Unsolicited Proposal from Consortium Consisting of Anbang Insurance Group, J.C. Flowers and Primavera Capital Constitutes a “Superior Proposal”
March 18, 2016 8:43 AM EDTNotifies Marriott of Intention to Terminate Merger Agreement
Marriott Has Right Until March 28, 2016 to Submit Counterproposal
Starwood Stockholder Meeting Postponed
STAMFORD, Conn.--(BUSINESS WIRE)-- Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) (Starwood) today announced that it has received a revised binding and fully financed proposal from a consortium consisting of Anbang Insurance Group Co., Ltd., J.C. Flowers & Co. and Primavera Capital Limited (the Consortium), that the Starwood Board of Directors, in consultation with its legal and financial advisors, has determined constitutes a... More
