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Starwood Hotels and Resorts Worldwide Inc (HOT.N) and Marriott International Inc (MAR.O) said on Friday the stockholders of the organizations voted to favor Marriott's procurement of Starwood to make the world's biggest inn organization.
Holders of more than 97 percent of Marriott shares and more than 95 percent of Starwood shares voted for the money and-stock arrangement, which was esteemed at $12.41 billion as of Thursday.
China's Anbang Insurance Group Co a week ago relinquished its $14 billion offer for Starwood Hotels, making room for Marriott to purchase the proprietor of Sheraton and Westin lodging brands.
Marriott raised the money part of its offer to $21 per offer on March 21 from $2 per offer, esteeming the aggregate offer at $73.42 per offer as of Thursday.
Marriott said the arrangement was on track to close mid-2016.
"Our groups keep on planning the mix of our two organizations," Marriott Chief Executive Arne Sorenson said.
The arrangement has cleared the pre-merger antitrust audit in the United States and Canada and anticipates endorsements in the European Union and China.
(Reporting by Ankit Ajmera and Arunima Banerjee in Bengaluru; Editing by Don Sebastian)
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