STARWOOD Hotels & Resorts Worldwide Inc. and Marriott International Inc. said Friday the stockholders of the companies voted to approve Marriott’s acquisition of Starwood to create the world’s largest hotel company.

    Holders of more than 97 percent of Marriott shares and over 95 percent of Starwood shares voted in favor of the cash-and-stock deal, which was valued at US$12.41 billion as of Thursday.

    China’s Anbang Insurance Group Co. earlier abandoned its US$14 billion offer for Starwood Hotels, clearing the way for Marriott to buy the owner of Sheraton and Westin hotel brands.

    Marriott raised the cash portion of its offer to US$21 per share March 21 from US$2 (???) per share, valuing the total bid at US$73.42 per share as of Thursday.

    Marriott said the deal was on track to close mid-2016.

    “Our teams continue to plan the integration of our two companies,” Marriott chief executive Arne Sorenson said.

    The deal has cleared the pre-merger antitrust review in the United States and Canada and awaits approvals in the European Union and China.(SD-Agencies)