Marriott International, Inc. (NASDAQ: MAR) and Starwood Hotels and Resorts Worldwide (NYSE: HOT) today announced they have received unconditional clearance from the European Union for Marriott to acquire Starwood in a merger transaction.
In announcing the decision in a press release issued by the European Commission, the 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.”