A deal to create the world’s largest hotel group has passed an important regulatory hurdle.
The mandatory waiting period in Marriott International’s proposed takeover of Starwood Hotels & Resorts has expired, paving the way for the acquisition to go ahead.
There were no antitrust challenges from the US Federal Trade Commission or the Competition Bureau of Canada, allowing the transaction to continue unopposed.
The two companies continue to cooperate with authorities around the world to gain various approvals for the transaction.
Marriott and Starwood will hold separate stockholder meetings as planned on March 28 to formally approve the deal.
Subject to all the regulatory approvals and completion of Starwood’s ongoing divesture of its vacation ownership unit, the transaction is expected to close by the middle of 2016.
