Marriott Vacations Worldwide Corp. announced that it has entered into a $4.7 billion deal to purchase vacation experience company ILG Inc. Marriott Vacations will acquire the outstanding ILG shares in a cash-and-stock transaction that will give ILG shareholders $14.75 in cash and 0.165 shares of Marriott Vacations common stock for each ILG share. The transaction is expected to be accretive to Marriott Vacations within the first full year after the close, and is expected to achieve at least $75 million in annual run-rate cost savings within two years of the transaction's close. ILG has more than 40 properties and over 250,000 owners in the Hyatt Vacation Ownership and Vistana Signature Experiences portfolios along with an exchange network of two million members and more than 3,200 resorts around the world. The names in the combined company will include Marriott Vacation Club, Grand Residences by Marriott, and Ritz-Carlton Destination Club. Marriott Vacations shares are unchanged in premarket trading and are up 22% for the past year. ILG shares are up 7.2% in Monday premarket trading and are up 35.4% for the last 12 months. And the S&P 500 index is up 12% for the for the last 12 months.