It’s one thing to know that travel agent associations are lobbying the government on agents’ behalf. It’s another to actually hear it and see it in action.
BETHESDA, Md. — The Chinese Ministry of Commerce (MOFCOM) appears to be the final hurdle in the Marriott-Starwood merger transaction.
Marriott International, Inc. and Starwood Hotels & Resorts Worldwide, Inc. have announced that, at the request of MOFCOM, they’ll be extending phase three of the merger to allow MOFCOM more time to review the transaction. This additional review period could last up to 60 days.
Marriott and Starwood continue to believe that their planned merger transaction poses no anti-competitive issues in China. Approval by China’s Ministry of Commerce is the only remaining merger clearance required before the transaction may close. The companies have received unconditional premerger clearances from regulatory authorities representing over 40 countries worldwide, including the United States, the European Union, Canada, Chile, Colombia, India, Japan, Mexico, Pakistan, Saudi Arabia, South Africa, South Korea, Taiwan, and Turkey.