Marriott to Buy Starwood Hotels in $12-Billion Deal

Marriott International Inc will buy Starwood Hotels & Resorts Worldwide Inc in a cash and stock deal valued at $12.2 billion to create the world's largest hotel chain. Starwood shareholders will receive 0.92 shares in Marriott Class A common stock and $2 in cash for each Starwood share held, the companies said on Monday. The offer translates into $72.08 per share for Starwood, a discount of about 4 per cent to the stock's Friday cl...