Marriott, Starwood merger on hold pending Chinese review

Merger is valued at $13.4B

Marriott International CEO Arne Sorenson and Starwood Hotels & Resorts Worldwide CEO Thomas Mangas
Marriott International CEO Arne Sorenson and Starwood Hotels & Resorts Worldwide CEO Thomas Mangas

From the South Florida website: A Chinese antitrust review is reportedly holding up the merger of Marriott International and Starwood Hotels & Resorts Worldwide, a deal which would form the world’s biggest hotel company.

According to the Wall Street Journal, Marriott agreed on Monday to delay the merger, responding to a request from China’s Ministry of Commerce for more time to complete its review of the deal.

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The extended review period, which is Marriott and Starwood’s final obstacle before consummating the merger, could take up to 60 days. [more]