08:25 AM EDT, 06/10/2025 (MT Newswires) -- Hyatt Hotels ( H ) said Tuesday it met the minimum tender requirement in its offer to acquire Playa Hotels & Resorts ( PLYA ) , with about 82.8% of Playa shares tendered ahead of the deadline.

The company said it now controls about 92.7% of Playa's stock and plans to pay for the tendered shares on or around June 11.

The $13.50-per-share offer values Playa at roughly $2.6 billion, including $900 million of debt, net of cash, Hyatt said.

A subsequent tender period is open through June 16, the company said. Playa's stock is set to be suspended from Nasdaq trading before markets open that day, Hyatt added.