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Marriott gets Chinese go-ahead to buy Starwood

Chinese regulators give green light for hotel merger

A Marriott hotel
Marriott said the anti-trust approval paves the way for the deal to close on Friday

Chinese competition watchdogs have given the go-ahead to hotel operator Marriott International Inc (NYSE:MAR) to buy rival Starwood Hotels & Resorts Worldwide Inc (NYSE:HOT).

Marriott said the anti-trust approval paves the way for the deal to close on Friday.

Starwood shareholders will receive US$21 in cash and 0.8 Marriott shares.

Marriott said the deal will underpin its status as the world’s biggest hotel company.

Quick facts: Marriott International

Price: 97.24 USD

NYSE:MAR
Market: NYSE
Market Cap: $31.53 billion
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