Hilton to Buy British Namesake

Hilton Hotels Corp. hopes to announce a deal worth $6.25 billion to buy the hotels of its British namesake today, the Financial Times reported Wednesday.

Beverly Hills-based Hilton and Britain’s Hilton Group worked through the weekend to reach a deal that would reunite the Hilton brand after more than 40 years, the newspaper said.

The two companies said in October that they were in talks over the sale of the British company’s hotels, but said no deal had been reached.

Barring any last minute problems, a deal could be announced as early as today at the opening of the New York securities markets, the Financial Times reported on its website. No one at either company could immediately be reached for comment.

Analysts have valued the British company’s 400-plus hotels at around $5.7 billion.

The Hilton business split in 1964 with the U.S. company running all Hilton hotels in the United States and the British company operating the brand elsewhere.

The two share an alliance to cover joint marketing, reservation and loyalty programs and have for several years discussed a merger.