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. Last Updated: 07/27/2016

Hilton Limits Offer

n NEW YORK -- Hilton Hotels Corp. said it won't raise its $80-a-share offer for ITT Corp., disappointing some investors and hurting its chances in this week's showdown with rival suitor Starwood Lodging Trust.


The fate of ITT, whose roots span back to 1920 when it was an international telephone operator, hangs on a shareholder vote Wednesday. Hilton's offer includes $44 a share in cash, while Starwood is bidding $85 a share in cash and stock.


Many investors expected Hilton Chief Executive Stephen Bollenbach to ante up a final time in his 10-month pursuit of the operator of Sheraton hotels and Caesars World casinos that has cost tens of millions.