Date Announced: 7/2/2007
client: Hilton Hotels Corporation
Status: Closed – 10/2007
Value: $26.5 billion Read the case study
On October 24, 2007, the real estate and corporate private equity funds of The Blackstone Group (“Blackstone,” NYSE: BX), a leading global alternative asset manager and provider of financial advisory services, acquired Hilton Hotels Corp. (“Hilton,” NYSE: HLT), the leading global hospitality company with more than 2,800 hotels and 480,000 rooms in 76 countries and territories, in the largest deal ever in the hotel sector. The acquisition was made at $47.50 per share in cash, representing a 40% premium to Hilton’s share price on the day prior to announcement. The acquisition brought together a leading global hospitality company with Blackstone’s extensive portfolio of hotels and resorts and is ranked among the top 10 largest U.S. leveraged buyouts ever. Moelis & Company acted as financial advisor to Hilton.