Marriott International and Starwood Hotels and Resorts Worldwide have received an unconditional clearance from the European Union for their merger. But the closing of Marriott’s acquisition of Starwood will require other antitrust clearances, including in China. Shareholders of both Marriott and Starwood overwhelmingly approved proposals related to the transaction on April 8 and Marriott and Starwood anticipate closing the transaction in July 2016. Until the deal is officially closed, the companies will continue to operate as separate and independent entities.
Europe’s Commissioner for Competition, Margaret Vestager, said, “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, so I am pleased that the Commission was able to clear the transaction quickly.”
