US hotel chain Marriott International secured EU antitrust approval on Monday for its cash and share purchase of Starwood Hotels and Resorts Worldwide.
The deal, currently worth about $12.1 billion, will put Marriott’s brands including the Ritz-Carlton and Starwood’s Sheraton and Westin chains together to create the world’s largest hotel company and is one of many in the sector this year.
“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,” EU Competition Commissioner Margrethe Vestager said in a statement.
Reuters reported on June 14 that the EU was set to clear the deal without conditions.
Full Content: The Wall Street Journal
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
ADM CFO Resigns Amidst DOJ Investigation into Accounting Issues
Apr 23, 2024 by
CPI
FTC Throws the Bag: Tapestry’s Capri Deal Blocked Over Market Monopoly Concerns
Apr 22, 2024 by
CPI
Italy’s Antitrust Authority Investigates Enel’s Communication of Energy Price Hikes
Apr 22, 2024 by
CPI
UK Data Regulator Uncovers Flaws in Google’s Privacy Sandbox Proposal
Apr 22, 2024 by
CPI
Japan’s Antitrust Body Orders Google to Amend Ad Search Practices
Apr 22, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI