Hilton to File ITT Tender Offer Today
Hilton Hotels Corp. is expected to file its tender offer for ITT Corp. today with the Securities and Exchange Commission. The tender offer is expected to disclose more details about Hilton’s plans to acquire ITT, which owns the Sheraton hotel chain and Caesars Palace in Las Vegas, in a $10.5-billion deal. Hilton executives are also scheduled to appear before a federal judge in Nevada on March 5 to seek a preliminary injunction that would prohibit ITT from potentially increasing the size of its board or interfering with the election of directors to oppose Hilton’s bid.
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