Marriott-Starwood Deal Gets Antitrust Okay From Saudi Arabia & Mexico

MARRIOTT INTERNATIONAL and Starwood Hotels & Resorts moved one step closer to a merger today. Marriott announced it has received authorisation from competition authorities in Saudi Arabia and Mexico to proceed with its acquisition of Starwood Hotels & Resorts in a merger transaction.

With these authorisations, the only remaining country in which Marriott and Starwood require pre-merger authorisation is China. Marriott and Starwood continue to cooperate with the Chinese regulatory agency (MOFCOM) and will be prepared to close the transaction promptly upon receiving authorization from China. 

Stockholders of both Marriott and Starwood overwhelmingly approved proposals related to the transaction on April 8, 2016.

Until legal close, the companies will continue to operate as separate and independent entities.