Starwood, IHG Talk Possible Merger: Reports
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Starwood Hotels, whose properties include this SheratonHOTEL IN ORLANDO
, is exploring a possible sale.
STAMFORD, CT—Starwood Hotels & Resorts Inc., headquartered here, has held preliminary discussions with Intercontinental Hotels Group Plc about a possible merger, according to published reports. Bloomberg Business reported Thursday that shares in IHG jumped after the Financial Times carried a story on merger talks.
Starwood did not respond to GlobeSt.com’s request for commentby deadline early Thursday afternoon; a spokeswoman for IHG tells GlobeSt.com the company is “not in talks with Starwood with a view to a combination of the businesses.” During an interview on Bloomberg Television Thursday, IHG CEO Richard Solomons had said that his company does not comment on speculation…
