Marriott Vacations Worldwide Corporation (NYSE:
The combined company will become the global leader in the timeshare industry, trading under NYSE
ILG is the parent company of Interval International, a membership-based timeshare trading group boasts over 2 million members with affiliated resorts in over 80 countries. Their family of companies doesn’t stop there, which includes Vistana Signature Experiences (formerly Starwood), Hyatt Vacation Ownership and more.
“This transaction will combine two of the premier global vacation ownership companies to create a more diversified company with significantly enhanced marketing potential and scale to drive sales growth and value for both MVW and ILG shareholders,” said Stephen P. Weisz, President and Chief Executive Officer of Marriott Vacations Worldwide.
It comes as a pleasant surprise that ILG has agreed to this merger. A
ILG’s shareholders heard later from Chief Executive Officer Craig Nash. He stated that this deal “provides them with immediate and compelling cash value and the opportunity to meaningfully participate in the long-term growth potential of a powerful combined company.”
ILG shareholders will receive $14.75 in cash and 0.165 shares of Marriott Vacations Worldwide stock for each ILG share.
This merger is expected to result in an annual savings of $75 million.