EU Approves Marriott’s Starwood Purchase

Marriott International received antitrust approval from the European Union on Monday for purchase of Starwood Hotels and Resorts Worldwide Inc. The $12.1 billion deal will combine Marriott brands such as the Ritz-Carlton and Starwood’s Sheraton and Westin chains, effectively establishing Marriott as the world’s largest hotel company. “This is an important merger for the hotel industry and its customers. Our investigation confirmed that the hotel sector will remain competitive for customers in Europe following the merger,” said EU Competition Commissioner Margrethe Vestager of the deal.

To read more on this story, go to Reuters.

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