3 years ago1.5K views
Marriott International Inc will buy Starwood Hotels & Resorts Worldwide Inc in a deal that will create the world's largest hotel chain.
The Deal is valued at $12.2 billion.
The companies said on Monday, that Starwood shareholders will receive 0.92 shares of Marriott Class A common stock and $2 in cash for each Starwood share held.
The offer translates into $72.08 per share for Starwood, a discount of about 4 percent to the stock's Friday close.
Starwood, the owner of St.