(To read more on the debt and equity markets, click here.)
BETHESDA, MD-Host Marriott Corp. has taken a step forward in itsplan to acquire 35hotels from Starwood Hotels & Resorts Worldwide Inc. nowthat the hotel real estate company's stockholders have given theirapproval for the issuance of approximately 133.5 million commonshares to help fund the transaction. Host Marriott has agreed topurchase the properties from Starwood for a total of $3.76billion.
The issuance of shares will provide the equity portion of thepayment, approximately $2.3 billion. The remainder of the paymentwill be made via the assumption of about $100 million in debt and acash payment.
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