Hyatt acquiring Playa in US$2.6 billion deal

Hyatt Hotels Corporation has signed an agreement to acquire Playa Hotels & Resorts NV in a US$2.6-billion deal which will see Hyatt acquiring Playa’s Jewel brand and further spreading its reach in Jamaica, Mexico, and the Dominican Republic. The deal was announced on Monday, with a Hyatt subsidiary to acquire all the outstanding ordinary shares in Playa at US$13.50 a share, a 40 per cent premium on the market price prior to the Hyatt announcement in December and assume US$900 million of Pla...