EU Approves Starwood Sale To Marriott

Marriott International’s takeover of Starwood Hotels & Resorts has been cleared by the European Union.

"This is an important merger for the hotel industry and its customers. Our investigation confirmed that the hotel sector will remain competitive for customers in Europe following the merger," EU Competition Commissioner Margrethe Vestager said in a statement.

The $12 billion deal will create the world’s largest hotel company. The sale got the green light from the United States and Canada, but it still needs to be approved by China before it's finalized next month.

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