Susquehanna Downgrades Starwood Hotels & Resorts (HOT) to Neutral
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Canaccord Genuity Raises Price Target on Starwood Hotels (HOT) Following New Marriott (MAR) Offer
March 23, 2016 10:20 AM EDTCanaccord Genuity reiterated a Buy rating on Starwood Hotels & Resorts (NYSE: HOT), and raised the price target of $88.00 (from $76.00), following a new MAR offer. UBS believes that MAR's current offer of $21 in cash and 0.80 MAR shares for every HOT share is the most attractive offer on the table today. Any further offer from Anbang would need to be at or above this... More
Marriott (MAR) Revises Terms of Starwood Hotels (HOT) Merger to $79.53/Share
March 21, 2016 7:02 AM EDTMarriott International, Inc. (NASDAQ: MAR) and Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) announced today that the companies have signed an amendment to their definitive merger agreement that creates the world's largest hotel company.
Under the terms of the amended merger agreement, Starwood shareholders will receive $21.00 in cash and 0.80 shares of Marriott International, Inc. Class A common stock for each share of Starwood Hotels & Resorts Worldwide,... More