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Marriott held a call for investors on this Monday morning, talking primarily about the new deal’s terms. Marriott decided to combine its Rewards with Starwood Preferred Guest loyalty programs and integrate their brands.With newly revised bid, the synergies have risen to $250 million, and Marriott expects them to be fully achieved within two years after closing.
Starwood Hotels & Resorts’ board of directors has exactly until 11:59 p.m. Eastern this Thursday to make a big decision about whether or not the Stamford, Connecticut-based company will continue with its $12.2 billion merger agreement with Marriott, or whether it will accept a new $14 billion bid from a group of companies led by Anbang Insurance Group, J.C. Flowers & Co., and Primavera Capital Group.