UPDATE 1-Hilton would pay $560 mln Blackstone break-up fee

(Reuters) - Blackstone, which agreed to buy Hilton for about $20
billion plus debt, will pay Hilton $660 million if it backs out
of the deal, Hilton said in a filing with the U.S. Securities
and Exchange Commission.




Break-up fees are customary in takeover deals and are put
in place to dissuade the sides from walking away.


Read more at Reuters.com Mergers News