Playa Hotels & Resorts has announced a major milestone in its pending sale to Hyatt Hotels Corporation. All the necessary approvals regarding anti – competition filings have been secured, with the antitrust approval in Mexico being the last regulatory green – light needed to complete the transaction.
This clearance paves the way for Hyatt’s tender offer to proceed. Hyatt is offering to buy all outstanding ordinary shares of Playa for $13.50 per share in cash, minus any applicable withholding taxes and without interest. The tender offer is set to expire at 5 p.m. ET on June 9.
The acquisition is being carried out under a purchase agreement dated February 9 between the two parties. Once the minimum tender and other offer conditions are met, the tendered shares will be accepted for payment on June 11.
This deal has significant implications for both companies. For Playa, it marks the end of an era as an independent entity, while Hyatt stands to expand its portfolio, especially in the all – inclusive resort segment. The transaction, once completed, will likely reshape the hospitality landscape, especially in popular beachfront destinations where Playa currently operates its 24 resorts across Mexico, Jamaica, and the Dominican Republic.
Industry experts are closely watching the deal’s progress, as it could influence future consolidation trends in the hotel and resort industry. With the final regulatory hurdle cleared, all eyes are now on the tender offer’s outcome and the subsequent steps in the acquisition process.
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