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Hilton Brands Reunite In A Deal Of $5.7 B |
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1:03 PM EST December 29 2005 |
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Hilton Hotels ((HLT)) confirmed that it reached a deal to acquire Hilton Group for about $5.71 billion. The hotel operator said the purchase price equates to a multiple of 11.3 times pro forma 2006 adjusted EBITDA. The deal is likely to close in the first quarter of 2006. The company stated that Hilton Group will retain its gambling and betting business and will likely change its name to Ladbrokes plc. |
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