November 16, 2015 / 11:13 AM / 2 years ago

Marriott to buy Starwood Hotels in $12.2 bln deal

Nov 16 (Reuters) - Marriott International Inc will buy Starwood Hotels & Resorts Worldwide Inc in a cash and stock deal valued at $12.2 billion to create the world’s largest hotel chain.

Starwood shareholders will receive 0.92 shares of Marriott Class A common stock and $2 in cash for each Starwood share held, the companies said. (bit.ly/1lr8xLt) (Reporting by Ankit Ajmera in Bengaluru; Editing by Kirti Pandey)

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