Hilton Hotels Corp. today announced that its merger with real estate and equity giant The Blackstone Group is complete. Hilton shares will be delisted from the New York Stock Exchange when the market closes today, and Hilton shareholders will receive $47.50 per share.
Hilton this summer first announced the $26 billion offer from Blackstone
(BTN, July 9)—the largest hotel deal in industry history—which now will roll Hilton's 2,896 properties worldwide into Blackstone's already considerable hotel portfolio. Other Blackstone acquisitions in recent years have included Wyndham International, MeriStar Hospitality, La Quinta Corp. and several extended stay brands.