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Marriott Buys Starwood, Creating World's Largest Hotel Chain

Marriott International bought Starwood Hotels and Resorts for $13.6 billion on Monday to create the world's biggest hotel chain and now, as part of the deal, is likely to take over the renovation of three deteriorating state-owned hotels in Cuba. The deal came three days after Starwood rejected Marriott's $12.2 billion buyout offer in favor of a $13 billion offer from China's Anbang Insurance Group; but then, Starwood accepted Marriott's new, bigger cash and stock...

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