EU Greenlights Marriott’s Acquisition of Starwood
European Union anti-trust regulators on Monday unconditionally cleared Marriott International’s $13.6 billion takeover of Starwood Hotels & Resorts. The merger, which was first announced last fall, was deemed not to harm competition in the region.
“Our investigation confirmed that the hotel sector will remain competitive for customers in Europe following the merger, so I am pleased that the Commission was able to clear the transaction quickly,” said Margrethe Vestager, the EU commissioner for competition.
Both Starwood and Marriott shareholders approved the current deal, which will create the world’s largest hotelier, in April. The two companies have already obtained regulatory approval in the United States but the deal still requires additional anti-trust clearances including in China.
Until the deal closes, which both companies expect to be the middle of the year, the two hotel chains will operate as separate and independent entities.
(Photo: Accura Media Group)