From Teleborsa – The Chinese consortium Anbang Insurance Group, which last week had upped its ante for Starwood Hotels & Resorts Worldwide, remains dry.
Indeed, the American hotel chain accepted Marriott International's improved offer at 13,6 billion dollars, or 79,53 dollars per share.
Under the terms of the agreement, signed today, Starwood shareholders will receive $21 in cash and 0,8 shares of Marriott for each Starwood stock they hold. The operation values the company at 79,53 dollars per share, better than the 78 dollars offered by the Anbang Chinese.
The closing of the operation which will give life to the first global hotel company is expected within the first half of 2016.
