Blackstone Group to Acquire Hilton Hotels for USD 26 Bln
10.07.2007Blackstone, leader in the field of private equity investing is to buy out Hilton hotel chain for USD 26 billion. The private equity group has agreed to pay USD 47,50 per share and buy all outstanding Hilton shares. The deal is due to be completed by Q4 2007. Hilton's board approved the terms of the deal on 3 July, Tuesday. Hilton is the second largest hotel chain in the U.S. after Marriott International Inc. Blackstone owns over 100,000 hotel rooms in the U.S. and Europe. Hilton owns over Hilton Hotels owns over 480,000 rooms including such brands as Waldorf-Astoria and Doubletree. The first Hilton hotel was opened in 1925 in Dallas, Texas.
