Investing.com - Marriott (NASDAQ:MAR)said Tuesday the Chinese ant-trust authorities have approved its acquisition of Starwood (NYSE:HOT).
Last regulatory approval needed to complete the merger to create world’s largest hotel group.
The combined company to have enterprise value of $36 billion, 1.1 million hotel rooms.
Merger deal to be completed before the market opens on September 23.
Starwood shareholders get $21.00 in cash, 0.80 Marriott shares per Starwood share.
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