1. Blackstone acquires Hilton
July 05, 2007
Hilton Hotels Corporation has entered into a definitive merger agreement with The Blackstone Group’s real estate and corporate private equity funds in an all-cash transaction valued at approximately $26 billion. Under the terms of the agreement, Blackstone will acquire all the outstanding common stock of Hilton for $47.50 per share. The price represents a premium of 40% over yesterday’s closing stock price.
美国黑石集团（Blackstone）与希尔顿酒店集团已经达成最终的收购协议。私人股权投资集团黑石集团（Blackstone）将以大约260亿美元现金收购希尔顿酒店集团（Hilton Hotels Corporation）。根据协议，黑石集团将以每股47.50美元的价格收购希尔顿所有公开发行的股票，这一价格比较昨天希尔顿股票的收盘价高40%。
Hilton’s Board of Directors approved the transaction today. It is anticipated that the transaction will close during the fourth quarter of 2007; completion is subject to the approval of Hilton’s shareholders, as well as other customary closing conditions. A special shareholders meeting will be scheduled at a later date.
The acquisition brings together a leading global hospitality company with Blackstone’s extensive portfolio of hotels and resorts. Blackstone currently owns more than 100,000 hotel rooms in the U.S. and Europe, ranging from limited service properties such as La Quinta Inns and Suites to LXR Luxury Resorts and Hotels. The LXR collection includes such upscale properties as The Boulders Resort and Spa (Arizona), The El Conquistador Resort (Puerto Rico), The Boca Raton Resort and Club (Florida), The Golden Door Spa (San Diego), and The London NYC (New York). Blackstone’s holdings complement Hilton’s unparalleled family of brands, which include Hilton, Conrad Hotels & Resorts, Doubletree, Embassy Suites, Hampton Inn, Hilton Garden Inn, Hilton Grand Vacations, Homewood Suites by Hilton, and The Waldorf=Astoria Collection.
这项收购完成后，希尔顿将成为黑石集团不断增长的酒店业务的一部分。目前黑石在美国和欧洲拥有超过10万个的酒店房间，其品牌覆盖提供基本服务型酒店（例如La Quinta酒店）到豪华酒店，豪华酒店包括：The Boulders Resort 及Spa (亚里桑纳)、The El Conquistador Resort (波多黎各)、The Boca Raton Resort 及Club (佛罗里达)、The Golden Door Spa (圣地亚哥)和The London NYC (纽约)。这次合作意味着黑石集团与希尔顿的品牌可以进行互补，希尔顿的品牌包括：希尔顿、康拉德酒店和度假胜地、Doubletree、大使馆套房、汉普顿客栈、希尔顿花园酒店、希尔顿完美假日、霍姆希尔顿的伍德套间及The Waldorf Collection。
Blackstone intends to invest in the Hilton properties and brands globally to enhance and grow the business for the benefit of owners, franchisees and customers. Over the last fifteen years, Blackstone has been the largest private investor in hospitality worldwide and it has a strong track record of reinvesting in its hotel properties. Blackstone has invested approximately $1 billion in redevelopment capital in its LXR properties over the last three years; it has also grown the La Quinta brand by approximately 45% since its acquisition in January 2006.
Stephen F. Bollenbach, Hilton’s co-chairman and chief executive officer, said: “Our priority has always been to maximize shareholder value. Our Board of Directors concluded that this transaction provides compelling value for our shareholders with a significant premium. We are delighted that a company with the resources an