by Donald Wood
Last updated: 9:20 AM ET, Sun June 8, 2025
Playa Hotels & Resorts announced that all required
approvals have been granted in relation to anti-competition filings for the pending
sale to Hyatt Hotels Corporation.
The antitrust approval in Mexico was the final regulatory
approval required to complete the transaction.
Hyatt's tender offer to acquire all the outstanding ordinary
shares of Playa for $13.50 per share in cash, less any applicable withholding
taxes and without interest, is scheduled to expire at 5 p.m. ET on June 9.
The offer is being made under the previously announced
purchase agreement, dated February 9, among Hyatt and Playa. Assuming the
minimum tender and other offer conditions are satisfied, the tendered shares
will be accepted for payment on June 11.
Following an offering period and the related transactions
required by the Purchase Agreement, Playa expects that Hyatt will own all
ordinary shares of Playa on or about June 17, 2025.
In addition, Playa also announced that it has submitted
written notice to Nasdaq of its intention to delist its ordinary shares from
Nasdaq voluntarily.
The voluntary delisting is subject to and conditioned upon
the expiration of the Hyatt tender offer as described above and the acquisition
by Hyatt of all ordinary shares validly tendered and not withdrawn adequately
by the purchase agreement.
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