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CDL Hotels offers $2.25 per share for 24% of Millennium & Copthorne, valuing the takeover at $237 million.
CDL Hotels Holdings New Zealand, owned by Singapore's City Developments Limited, is offering to buy the remaining 24% of Millennium & Copthorne Hotels for $2.25 per share, a 25% premium over Friday's closing price.
This $237 million takeover aims to strengthen CDL's control over MCK, with no changes planned to MCK’s management or headquarters.
The offer is subject to shareholder and regulatory approval.
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CDL Hotels ofrece $2.25 por acción para el 24% de Millennium & Copthorne, valorando la adquisición en $237 millones.