Marriott International, Inc.(MAR)- NASDAQ
  • Mon, Jun. 27, 9:10 AM
    • The European Commission has cleared the acquisition of Starwood Hotels & Resorts (NYSE:HOT) by Marriott (NASDAQ:MAR), determining that the takeover would not adversely affect competition in Europe.
    • The EC, the European Union's antitrust agency, says it focused its probe in the cities of Barcelona, Milan, Venice, Vienna and Warsaw, where both companies have a strong market presence but found the merged company would still face sufficient competition from chain and independent hotels there.
    | Mon, Jun. 27, 9:10 AM
  • Fri, Apr. 8, 11:36 AM
    • Shareholders at Marriott International (MAR +0.9%) and Starwood Hotels & Resorts (HOT +0.7%) officially approve the merger of the two hotel companies.
    • 97% of Marriot shareholders that voted gave the thumbs-up, while the percentage for Starwood voters was 95%.
    • The deal has cleared some antitrust hurdles to keep it on track for a mid-2016 closing.
    • Now read Starwood Hotels & Resorts and Marriott  investor meeting transcript
    | Fri, Apr. 8, 11:36 AM | 14 Comments
  • Fri, Apr. 1, 2:08 AM
    • Anbang Insurance Group has walked away from its planned offer for Starwood Hotels (NYSE:HOT), after teaming up with private equity firms Primavera Capital and J.C. Flowers for a $14B deal.
    • The reason? According to Reuters, the Chinese insurer's consortium was not interested in a protracted bidding war.
    • The surprise move clears the way for rival suitor Marriott (NASDAQ:MAR) to buy the Sheraton and Westin hotels operator.
    • Previously: WSJ: Anbang to back way from Starwood bid (Mar. 31 2016)
    | Fri, Apr. 1, 2:08 AM | 1 Comment
  • Mon, Mar. 28, 9:30 AM
    • Starwood Hotels & Resorts (NYSE:HOT) says a new offer from a consortium led by Anbang came in at $82.75 per share. If the consideration for Interval Leisure Group (NASDAQ:IILG) is factored in, the offer has a combined value of $88.66.
    • The company says the new bid is "reasonably likely" to qualify as a superior proposal, although Marriott International (NASDAQ:MAR) can still come in with another offer. The Starwood board is on record as preferring the Marriott offer.
    • HOT +2.42% premarket to $84.10.
    | Mon, Mar. 28, 9:30 AM | 7 Comments
  • Mon, Mar. 21, 7:11 AM
    • Starwood Hotels & Resorts (NYSE:HOT) and Marriott International (NASDAQ:MAR) sign a revised merger agreement.
    • The new terms call  for Starwood shareholders to receive $21.00 in cash and 0.80 shares of Marriott International per share held.
    • The combination of the two hotel operators is expected to generate general & administrative run-rate synergies of $250M.
    | Mon, Mar. 21, 7:11 AM | 3 Comments
  • Fri, Mar. 18, 9:27 AM
    • Marriott International (NASDAQ:MAR) issues a statement following the announcement of Starwood Hotel & Resorts (NYSE:HOT) acceptance of an offer from an Anbang consortium.
    • The company notes it still has until March 28 to bring in a new offer and has a tidy termination fee of $400M fee waiting for it if a new deal isn't struck. The tone from Marriott is that the chase is decidedly still on.
    • The quick analysis from several hotel sector analysts is that a Marriott-Starwood deal is ultimately more likely than an Anbang-Starwood combination.
    • M +1.32% to $72.25. HOT +5.04% to $80.24. Shares of Hyatt Hotels (NYSE:H) and InterContinental Hotels Group (NYSE:IHG) are on watch due to their trend of extra volatility on sector M&A developments.
    • Previously: Marriott loses Starwood (for now) (Mar. 18 2016)
    | Fri, Mar. 18, 9:27 AM | 5 Comments
  • Fri, Mar. 18, 8:58 AM
    • Starwood Hotel (NYSE:HOT) has agreed to sell itself to a consortium led by China's Anbang Insurance and J.C. Flowers for $78 per share in cash, which is $2 per share higher than the group initially offered on March 10.
    • Starwood is giving Marriott (NASDAQ:MAR) until March 28 to submit a counterproposal. The current value of Marriot's bid is $71 per share (in stock, cash, and spin-off).
    • Source: Press Release
    • HOT +4.45% to $79.76 premarket. MAR +1%.
    • Previously: Starwood higher after receiving new offer (March 14)
    | Fri, Mar. 18, 8:58 AM | 4 Comments
  • Mon, Mar. 14, 7:09 AM
    • Marriott International (NASDAQ:MAR) announces it is still on track to merge with Starwood Hotels & Resorts (NYSE:HOT), even with a consortium led by Anbang Insurance Group on the hunt for Starwood.
    • In a separate announcement, Starwood says its board of directors hasn't changed its support of the combination of the hotel giants.
    • Shareholders of Marriott and Starwood vote on the issue on March 28.
    • Previously: Report: Anbang to buy Strategic Hotels for $6.5B (Mar. 13 2016)
    • HOT +6.60% premarket to $75.75 after receiving the competing offer at $76.
    | Mon, Mar. 14, 7:09 AM
  • Wed, Feb. 17, 6:37 PM
    • Marriott (MAR +2.5%) and Starwood (HOT +2.7%) have set shareholder meetings to approve the transactions related to Marriott's $12.2B buyout bid.
    • The two companies will meet separately on March 28 at 10 a.m. ET to consider the deal. A joint proxy statement will be mailed out starting Friday.
    • A number of approvals (and Starwood's divestiture of its vacation ownership business) lie ahead for the transaction, which they expect to close in mid-2016.
    • Marriott will hold off buybacks from today until the vote to comply with securities laws.
    • The two agreed on a $12.2B deal in November to create the world's largest hotel company.
    • After hours: MAR -2.5%; HOT +0.2%.
    | Wed, Feb. 17, 6:37 PM | 1 Comment
  • Nov. 16, 2015, 6:19 AM
    • Marriott International (NASDAQ:MAR) has agreed to acquire Starwood Hotels & Resorts Worldwide (NYSE:HOT) in a deal valued at about $12.2B, creating the world's largest hotel company.
    • Under the terms of the deal, Starwood shareholders will receive 0.92 shares of Marriott Class A common stock and $2 in cash for each share of Starwood common stock.
    • Combined, the companies operate more than 5,500 hotels with 1.1M rooms worldwide, with pro forma fee revenue for the 12 months ended September 30, 2015 totaling over $2.7B.
    • MAR +0.4%; HOT -0.9% premarket
    | Nov. 16, 2015, 6:19 AM | 29 Comments
  • Aug. 14, 2013, 3:27 PM
    • Marriott International (MAR +2.2%) is close to striking a deal to sell 3 hotels for more than $800M.
    • The potential buyer is reported to be a sovereign fund for Abu Dhabi looking to diversify further away from oil.
    | Aug. 14, 2013, 3:27 PM
  • Feb. 18, 2013, 4:38 AM

    RBS (RBS) is reportedly nearing an agreement to sell 42 Marriott-operated hotels to Abu Dhabi Investment Authority, possibly for £640M ($992M). RBS took control of the hotels when the previous owners defaulted on their debt in 2011.

    | Feb. 18, 2013, 4:38 AM
  • May 31, 2012, 8:58 AM

    Marriott International (MAR) acquires the Gaylord Hotels brand from Gaylord Entertainment (GET) for $210M. The deal will add 4 hotels with close to 7.8K rooms to Marriott's portfolio. GET +13.3% premarket, MAR inactive.

    | May 31, 2012, 8:58 AM
Company Description
Marriott International, Inc. engages in the operation and franchises of hotels, corporate housing properties, and timeshare properties under numerous brand names. It operates through the following business segments: North American Full-Service, North American Limited-Service, and International.... More
Sector: Services
Industry: Lodging
Country: United States