Skift Take
Like most others, we're just waiting to see what brands survive the combination.
Marriott International and Starwood Hotels and Resorts filed papers with the Securities and Exchange Commission today stating that they had cleared pre-merger antitrust reviews in both the United States and in Canada.
The filing notes that the waiting period required by the Hart-Scott-Rodino Antitrust Improvements Act of 1976 had expired, which signifies that Marriott and Starwood are free to move forward with their merger. It also revealed good news from Canada, as its Competition Bureau has issued a “no-action letter” that allows the brands to proceed with the deal.
The merger must still receive approval from competition authorities in the European Union and elsewhere.
The next step for the merger consists of stockholder votes on March 28 for both companies. Starwood has also agreed to sell its vacation rental business to Interval Leisure Group for $1.5 billion prior to the merger, but that deal has yet to close. A Starwood spokesperson said today that it is on track to close in the second quarter.
The two companies expect the deal to close in June of this year.
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