April 30, 2018 / 11:08 AM / 7 months ago

BRIEF-Marriott Vacations Worldwide To Acquire ILG for equity value of about $4.7 bln

April 30 (Reuters) - Marriott Vacations Worldwide Corp :

* MARRIOTT VACATIONS WORLDWIDE TO ACQUIRE ILG TO CREATE A LEADING GLOBAL PROVIDER OF PREMIER VACATION EXPERIENCES

* DEAL FOR EQUITY VALUE OF APPROXIMATELY $4.7 BILLION.

* UNDER TERMS OF AGREEMENT, ILG SHAREHOLDERS WILL RECEIVE $14.75 IN CASH AND 0.165 SHARES OF MVW COMMON STOCK FOR EACH ILG SHARE.

* ILG SHAREHOLDERS WILL RECEIVE $14.75 IN CASH AND 0.165 SHARES OF MVW COMMON STOCK FOR EACH ILG SHARE

* DEAL FOR EXPECTED TO BE ACCRETIVE TO CO'S ADJUSTED EPS WITHIN FIRST YEAR AFTER CLOSE

* MARRIOTT VACATIONS WORLDWIDE - CO'S BOARD WILL BE EXPANDED FROM EIGHT TO 10 MEMBERS TO INCLUDE TWO CURRENT MEMBERS OF ILG BOARD

* WILLIAM SHAW WILL REMAIN CHAIRMAN OF BOARD

* FOLLOWING CLOSE OF TRANSACTION, COMBINED COMPANY WILL TRADE ON NYSE UNDER TICKER SYMBOL VAC.

* MARRIOTT VACATIONS WORLDWIDE - CO'S CEO STEPHEN WEISZ, CFO JOHN GELLER WILL CONTINUE TO SERVE IN ROLES FOLLOWING CLOSE OF TRANSACTION

* MARRIOTT VACATIONS WORLDWIDE - FOLLOWING CLOSE OF DEAL, ILG SHAREHOLDERS WILL OWN ABOUT 43% OF CO'S COMMON SHARES ON FULLY-DILUTED BASIS

* QURATE RETAIL, INC. HAS ENTERED INTO A VOTING AGREEMENT WITH ILG IN SUPPORT OF TRANSACTION.

* HAS RECEIVED FINANCING COMMITMENTS FROM J.P. MORGAN AND BOFA MERRILL LYNCH

* MARRIOTT VACATIONS WORLDWIDE - EXPECTS TO ACHIEVE AT LEAST $75 MILLION OF ANNUAL RUN-RATE COST SAVINGS WITHIN TWO YEARS FOLLOWING CLOSE OF TRANSACTION

* MARRIOTT VACATIONS WORLDWIDE - EXPECTS TO PAY PRO-FORMA ANNUAL DIVIDEND OF $1.60 PER SHARE FOLLOWING CLOSE OF TRANSACTION Source text for Eikon: Further company coverage:

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