NY Judge Won't Halt $13.6B Starwood, Marriott Merger
Law360, New York (June 1, 2016, 6:30 PM EDT) -- A New York judge on Wednesday refused to block a proposed $13.6 billion merger between Marriott International Inc. and Starwood Hotels & Resorts Inc. despite objections from two hotel owners who say the deal violates exclusivity agreements protecting their properties from neighborhood competition, saying the challenge comes too late.
Cityfront Hotel Associates LP and Dream Team Hotel Associates LLC claim that the merger will cause unfair competition for their Sheraton and Westin-branded hotels in Chicago and New York, respectively, which is supposed to be prevented under existing agreements they have with Starwood.
The Starwood-Marriott transaction was initiated in November 2015 and...
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