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Stock Market & Financial Investment News

News Breaks
January 22, 2014
06:32 EDTMARMarriott to acquire Protea Hospitality Holdings for $186M
Marriott and South Africa's Protea Hospitality Holdings announced that they have signed definitive agreements for the purchase by Marriott of Protea's three brands and management company. Under terms of the agreements Marriott will pay approximately $186M at current exchange rates, subject to normal closing adjustments. The purchase price represents approximately 10 times anticipated pro forma 2014 calendar year EBITDA excluding transaction costs. As part of the transaction, Protea Hospitality Holdings will create a property ownership company to retain ownership of the hotels it currently owns, entering into long-term management and lease agreements with Marriott for such hotels. The property ownership company will also retain a number of minority interests in other Protea-managed hotels. At closing Marriott will manage approximately 45% of the rooms, franchise approximately 39% of the rooms, and lease approximately 16% of the rooms.
News For MAR From The Last 14 Days
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April 22, 2015
10:02 EDTMAROn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Alcatel-Lucent (ALU) upgraded on post-merger outlook at Bernstein... Amazon.com (AMZN) upgraded to Buy, price target raised to $450 at Monness Crespi... BNP Paribas (BNPQY) upgraded to Overweight from Equal Weight at Morgan Stanley... Dolby (DLB) upgraded to Overweight from Neutral at JPMorgan... First Defiance (FDEF) upgraded to Outperform from Market Perform at Raymond James... Gran Tierra (GTE) upgraded to Buy from Neutral at Dundee... Grupo Aval (AVAL) upgraded to Buy from Neutral at Goldman... Manhattan Associates (MANH) upgraded to Buy from Hold at Benchmark Co.... Marriott (MAR) upgraded to Buy from Neutral at MKM Partners... Masco (MAS) upgraded to Outperform from Market Perform at FBR Capital... Nokia (NOK) upgraded on post-merger outlook at Bernstein... Packaging Corp. (PKG) upgraded to Buy from Hold at Deutsche Bank... Rayonier (RYN) upgraded to Sector Perform from Underperform at RBC Capital... Rogers Communications (RCI) upgraded to Buy from Neutral at BofA/Merrill... Sanofi (SNY) upgraded to Neutral from Sell at Citigroup... Select Comfort (SCSS) upgraded to Outperform from Neutral at Wedbush... UniCredit (UNCFF) upgraded to Buy from Sell at Berenberg... Zions Bancorp (ZION) upgraded to Outperform from Market Perform at FBR Capital.
06:13 EDTMARMarriott upgraded to Buy from Neutral at MKM Partners
MKM Partners upgraded Marriott to Buy with a $100 price target due to valuation.

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