(Bloomberg) — Marriott International Inc. agreed to take over Elegant Hotels Group Plc in a transaction that will deepen the lodging giant’s reach into the Caribbean.Marriott International will pay 110 pence a share in cash for Elegant Hotels, a 57% premium to its Thursday close, according to a statement Friday that confirmed an earlier Bloomberg News report. That values the company at about 101 million pounds ($130 million), or $199 million including debt, the company said in the statement.Elegant Hotels shares gained as much as 56% in London trading Friday morning, the most on record. The deal is subject to …read more
Source:: Yahoo Finance
