May 12, 2007 |
Casino company Riviera Holdings Corp., which had rebuffed a takeover bid from investors including Barry Sternlicht, said it had received a buyout offer of $373.9 million from a group led by Ian Bruce Eichner and Dune Capital Management.
July 28, 1997 |
Starwood Lodging Trust, the nation's largest hotel real estate investment trust, may agree to buy Westin Hotels & Resorts this week, people familiar with the talks said. Seattle-based Westin could fetch as much as $1.5 billion in a sale, analysts said. Buying Westin would give Starwood Lodging a well-known upscale hotel brand to affix to its string of more than 100 hotels. Starwood Lodging wants its own brand to save costly franchisee fees it pays for other hotel flags.
April 7, 2006 |
A group of private investors has agreed to buy hotel-casino operator Riviera Holdings Corp. for $211.5 million, with an eye on the company's Las Vegas Strip property, the company said Thursday. The investment group, Riv Acquisition Holdings Inc., will pay $17 a share. Shares of Las Vegas-based Riviera rose 80 cents Thursday to $18.94.
September 22, 2004 |
Starwood Hotels & Resorts Worldwide Inc., operator of the Sheraton, Westin and W Hotels brands, has named former Coca-Cola Co. President Steven J. Heyer as chief executive to succeed company founder Barry S. Sternlicht, effective Oct. 1. The firm said Sternlicht would assume the position of executive chairman, reducing his day-to-day role to focus on long-term strategies for the firm as well as capital investment and real estate matters. Shares of Starwood rose $1.69 to $46.26 on the NYSE.
July 20, 1999 |
Starwood Hotels & Resorts Worldwide Inc., the world's largest hotel owner, agreed to buy Vistana Inc. for about $645 million in cash, stock and assumed debt, to enter the time-share resort business. White Plains, N.Y.-based Starwood said it will pay $19 a share, 10% more than Vistana's closing price Friday. Vistana holders would receive $5 a share in cash and the rest in Starwood stock. Starwood also would assume about $240 million of debt. Orlando, Fla.
May 4, 2000 |
Starwood Hotels & Resorts Worldwide Inc., the world's largest hotel owner, appointed a committee of directors to investigate Chairman Barry Sternlicht's controversial investment in Priceline.com Inc. The panel was appointed in response to a lawsuit filed against Starwood by a group of shareholders, Sternlicht said. The suit alleged that Sternlicht breached his fiduciary responsibility by investing personally in Priceline instead of having Starwood make the investment.