Despite the Fed-mania sweeping the Street today, there is a bit of news to report from the mergers-and-acquisitions front. Hilton Hotel said that its shareholders have approved the proposed acquisition of the hotelier by Blackstone Group (BX). The deal will go through with its original price tag, which values Hilton at $26 billion ($47.50 per share). Hilton shareholders will receive cash for their shares.

The stock is up only fractionally on the news, trading just below that acquisition price at $46.30. Prior to the bid, HLT was trading as low as the 34 region. Since that July 3 announcement, the stock has hovered in a sideways channel between 43 and 47.

Meanwhile, option traders have loaded up on bearish bets on the hotel chain. Hilton's Schaeffer's put/call open interest ratio is 1.43, just 2 percentage points away from an annual pessimistic peak. Put interest is fairly light in the soon-to-expire September series, but we could see an unwinding of the 13,873 put contracts in residence at the October 40 strike in the wake of this positive buyout news.