Hilton shareholders back £10b Blackstone takeover

Hilton Hotels Corporation shareholders have overwhelmingly approved the proposed £10b takeover by private equity firm The Blackstone Group.

More than 98% of votes were in favour of the deal, according to Hilton, which expects the transaction to now complete by the end of October.

With the merger approved by shareholders, the only remaining approval needed is a receipt of clearance from the European Commission, for which the companies filed a notification last week.

The deal, which was announced on July 3, will see Blackstone taking on more than 2,800 properties and 480,000 rooms in the Hilton family of brands.

By doing so, the company - owner of Center Parcs, restaurant group Tragus and Madame Tussauds Group in the UK - will become the world's largest hotelier, controlling about 600,000 rooms

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By Daniel Thomas

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