FlyerTalk Forums - View Single Post - Starwood: "Marriott and Starwood stockholders approve merger"

Mar 28, 2016, 5:28 pm

#3027

SkiAdcock

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Quote:

Originally Posted by Statman

In a press release issued today, Marriott says it is sticking with its original offer. I am taking this to mean that Marriott is not going to up Anbang's new offer.

http://www.prnewswire.com/news-relea...300241892.html

Marriott said it 'reaffirmed its commitment to SPG'. From what I can tell the Marriott press release came out before the AnBang offer. I had already read it on the Marriott website & then discovered the 'breaking news' re: AnBang after. However, I do think Marriott is going to walk away w/ the $468 million rather than up its offer.

Back to a question I had before. Since HOT was encouraging its shareholders to vote for the merger w/ Marriott, what happens if they did cast votes yes before the AnBang offer? Do those votes get null & void & HOT sends out another hey please vote this way now? Legit question. I'm not a M&A/shareholder type, so appreciate the input.

FWIW - if AnBang does win (and I hope they do), I also wish the best for my fellow FTers who are members of SPG. I know you all expect everything to stay status quo. I'm a bit more cynical (and my cynicism has nothing to do w/ Marriott, but just mergers & enhancements in general).

Cheers.