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Interval Leisure Group Completes Acquisition of Vistana Signature Experiences from Starwood Hotels & Resorts
Interval Leisure Group | May 12, 2016
MIAMI & STAMFORD, Conn. - May 12, 2016 - Interval Leisure Group, Inc. (ILG) (NASDAQ:IILG), a leading global provider of professionally delivered vacation experiences, has completed the previously announced acquisition of Vistana Signature Experiences, Inc. ("Vistana"), a leading developer, owner, and operator of high-end vacation ownership resorts, from Starwood Hotels & Resorts Worldwide, Inc. ("Starwood") (NYSE:HOT). As consideration for the acquisition, Starwood shareholders receive approximately 72.4 million of ILG shares valued at $14.24 per share based on the closing price of ILG shares on May 11, 2016 , or approximately 0...
Starwood Hotels and Resorts Announces Details for Completion of Spin-off and Subsequent Merger of Its Vacation Ownership Business
Starwood Hotels & Resorts Worldwide, Inc. | March 21, 2016
STAMFORD, Conn.- March 21, 2016 - Starwood Hotels & Resorts Worldwide, Inc. (NYSE:HOT) ("Starwood") today announced that its Board of Directors has set a record date of March 28, 2016, for the proposed spin-off of its vacation ownership business, Vistana Signature Experiences, Inc. ("Vistana"). Under the terms of the spin-off, Starwood will distribute all of its shares of Vistana to its stockholders of record as of the record date by means of a stock distribution. As previously announced, immediately following the spin-off, Vistana will merge with a wholly owned subsidiary of Interval Leisure Group, Inc. ("ILG"), as a result of whic...
Interval Leisure Group to Acquire Starwood Hotels and Resorts’ Vacation Ownership Business
ILG | October 28, 2015
MIAMI & STAMFORD, Conn.--October 28, 2015--Interval Leisure Group (Nasdaq:IILG) ("ILG"), and Starwood Hotels and Resorts Worldwide, Inc. (NYSE:HOT) ("Starwood") today announced that the Boards of Directors of both companies have unanimously approved a definitive agreement under which a wholly owned subsidiary of ILG will acquire and then merge with and into Vistana Signature Experiences ("Vistana"). The combination, which will follow completion of the planned spin-off of Vistana from Starwood announced on February 10, 2015, has a total value to Starwood of approximately $1.5 billion. Vistana is a leading developer marketer and manag...
