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Article: Marriott International Announces March 20, 1998 Record Date for Spinoff
- Article from:
- PR Newswire
- Article date:
- March 11, 1998
CopyrightCOPYRIGHT 1998 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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WASHINGTON, March 11 /PRNewswire/ -- Marriott International, Inc. (NYSE: MAR) today announced a record date of March 20, 1998 for the spinoff of a new company to be comprised of its lodging, senior living and distribution services businesses. This new company will adopt the Marriott International, Inc. name.
The current Marriott International will distribute one share of common stock (having one vote per share) and one share of Class A common stock (having ten votes per share) of the "new" Marriott International for every share owned on the record date. The distribution is expected to be made on March 27, 1998, subject to shareholder approval of the ...