Kirkland, Paul Weiss Steer $4.7B Marriott-ILG Deal
Law360 (April 30, 2018, 3:16 PM EDT) -- Kirkland & Ellis LLP represented Marriott Vacations Worldwide Corp. in connection with its agreement, announced Monday, to buy Paul Weiss Rifkind Wharton & Garrison LLP-counseled ILG Inc., a fellow Florida-based vacation ownership company that's private equity-backed, in a deal with an equity value of roughly $4.7 billion.
Per terms of the deal, Orlando-based Marriott Vacations Worldwide is paying $14.75 in cash and providing 0.165 shares of its stock for each ILG share.
News of the deal sent ILG shares higher on Monday, while Marriott shares fell sharply on the takeover news. The deal had been rumored earlier this month.
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