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Hilton Hotels in $6B Buyout Talks

LONDON-Hilton Hotels Corp. is in talks to buy the hotels of its UK namesake, a deal that would reunite the Hilton brand after more than 40 years and could be worth euro 5.25 billion ($6.03 billion).

By Anita Howarth | Updated on October 14, 2005

LONDON-Hilton Hotels plans to buy the 2,300 hotels owned by UK-based Hilton Group for euro 5.25 billion ($6.03 billion). The two groups split in 1964. Under the terms of the split, HHC could operate only in America, while Hilton Group would operate around the world.

“The board confirms that it has received an indicative offer from Hilton Hotels Corp., which it is currently evaluating,” Hilton Group officials say in a statement.

“While discussions are ongoing, a definitive agreement has not been signed and there can be no assurance that any transaction will result from such discussions,” spokespeople for Hilton Hotels Corp. say in a separate, brief statement. Shares in Britain’s Hilton Group jumped 19% immediately after the announcement this morning.

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