China Requests More Time Reviewing Marriott, Starwood Merger
by Jessica Montevago /Chinese regulators requested more time to review Marriott International’s planned merger with Starwood Hotels & Resorts.
Marriott said Monday it has agreed to extend the time period by up to 60 days. Approval from the Chinese Ministry of Commerce is the final step before the deal can close.
“Marriott and Starwood continue to believe that their planned merger transaction poses no anti-competitive issues in China,” the company said in a statement.
Regulatory authorities from 40 countries, including the United States and European Union, have approved the transaction.
