Word: marriott
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...over the summer, Harvard and three otherinvestors filed suit against the MarriottCorporation, hoping to block the company's splitinto a healthy hotel operation and a debt-ladenreal estate division. The University claimed itsnearly $34 million investment in Marriott woulddiminish in value substantially as a result of thesplit...
...Harvard's argument was challenged by aDelaware Chancery Court judge, who called it"dark" and "Machiavellian." The Universityeventually settled its feud with Marriott and thecompany's breakup went ahead as planned...
...University owns 480,300--or 12 percent--of Marriott's four million preferred shares, an investment which, as of yesterday, was worth approximately $38.7 million...
Nick Hill, a spokesperson for Marriott, said the com- pany would not comment further on the matter...
According to the terms of the split, Harvard will no longer receive a dividend on its preferred stock, and those shares will be convertible only into shares of the highly leveraged Host Marriott...