Hilton Hotels Corp

Stephen F. Bollenbach, chairman and chief executive of Beverly Hills-based Hilton Hotels Corp., received compensation last year valued at $17.5 million, according to a regulatory filing. His compensation package included $1 million in salary, a bonus of $137,830, stock and options worth about $14 million when granted, non-equity incentive plan compensation of $2 million and other compensation totaling $368,464, Hilton said in its Securities and Exchange Commission proxy statement.

Hilton Hotels Corp. shareholders overwhelmingly approved the company's $20.1-billion sale to Blackstone Group, the hotel operator said. More than 98% of votes cast at a shareholder meeting at the Beverly Hilton hotel favored the buyout, the company said. Pending approval by the European Commission, the deal is expected to close by the end of October, Hilton said. Under terms of the buyout, Blackstone would pay Hilton shareholders $47.50 a share in cash.

Hilton Hotels Corp. said Institutional Shareholder Services and Glass Lewis & Co. had recommended that investors vote for the company's sale to Blackstone Group. Beverly Hills-based Hilton made the announcement in a filing with the Securities and Exchange Commission. In July, Hilton said it agreed to a $20-billion buyout by Blackstone. The deal would end Hilton's more than 60 years as a public company. Stockholders would receive $47.