Marriot Announces Expiry Of HSR Waiting Period In Acquisition Of Starwood

(RTTNews) - Marriott International, Inc. (MAR) and Starwood Hotels & Resorts Worldwide, Inc. (HOT) Tuesday said that the waiting period under the Hart-Scott-Rodino Antitrust Act has expired in connection with Marriott's proposed acquisition of Starwood. In addition, the premerger waiting period under Canadian law has expired and that the Competition Bureau of Canada has issued a "no-action letter."

The companies said they are continuing to cooperate with competition authorities worldwide to obtain regulatory approvals. Marriott and Starwood has set March 28 as the date of their separate special stockholder meetings to approve the combination transactions. The transaction is expected to close in mid-2016.