Hilton Receives European Commission Antitrust Clearance
Hilton Hotels Corporation (NYSE:HLT) announced that it has received clearance from the European Commission for its pending merger with BH Hotels LLC, an entity controlled by investment funds affiliated with The Blackstone Group L.P.
Approval by the European Commission was the final remaining regulatory approval that is a condition to closing of the merger. The merger is expected to close on October 24, 2007. Hilton will announce the completion of the merger once it has closed.
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Hilton International, a subsidiary of Hilton Group plc, and Hilton Hotels Corporation have a worldwide alliance to market Hilton, the world's best-known hotel brand. Collectively offering over 2,400 hotels in 78 countries worldwide, both companies are recognized as leaders in the hospitality industry.
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