Hilton Files for Initial Public Offering
Hilton Worldwide filed a registration statement today with the Securities and Exchange Commission for an initial public offering of its stock, valued at $1.25 billion. Neither the number of shares nor the price range of the shares have yet been announced, but the company owners, the Blackstone Group, will maintain a majority of the voting power. Book-running managers are Deutsche Bank Securities; Goldman, Sachs & Co.; BofA Merrill Lynch, and Morgan Stanley & Co. The Blackstone Group took Hilton private in 2007, when it purchased the debt-ridden lodging company.