Kirkland & Ellis LLP advised Marriott Vacations Worldwide Corporation (NYSE: VAC) (MVW), which announced today it will acquire all of the outstanding shares of ILG (Nasdaq: ILG), in a cash and stock transaction with an implied equity value of approximately $4.7 billion. MVW is a leading global pure-play vacation ownership company, offering a diverse portfolio of quality products, programs and management expertise with over 65 resorts. ILG is a leading provider of premier vacation experiences with more than 40 properties and 250,000 owners in its Vistana Signature Experiences and Hyatt Vacation Ownership portfolios, as well as exchange networks that comprise nearly two million members and more than 3,200 resorts worldwide. As a combined entity, MVW and ILG will be a leader in the vacation experiences industry with significant scale, an expanded presence in key leisure destinations, the largest portfolio of upper-upscale and luxury brands in the industry and world-class exchange networks. The transaction, which is expected to close in the second half of 2018, is subject to customary closing conditions and regulatory approvals. Following the close of the transaction, the combined company will trade on the NYSE under ticker symbol VAC. See MVW’s press release for more information on the transaction.
The Kirkland corporate team was led by David Feirstein, Keri Schick Norton and David Fox. MVW’s in-house team was led by Executive Vice President & General Counsel James Hunter and Senior Vice President & Associate General Counsel – Corporate Affairs & Finance Catherine Meeker.