Investment Banking

Lazard closes in on bumper payday

Two businesses that Lazard has been advising for over a decade have closed in on multi-billion dollar deals in the last week

Lazard closes in on bumper payday

Lazard looks set for a bumper payday after two businesses that it has been advising for over a decade closed in on separate multi-billion dollar deals in the last week.

Marriott International said on November 16 that it had agreed to buy Starwood Hotels & Resorts, which owns various high-end hotel brands including W Hotels, Sheraton and Le Meridien, in a deal valued at $12.2 billion. Lazard has been advising Starwood on its options since April, and has worked closely with the company for over a decade, according to a person familiar with the relationship.

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