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.

2 months ago
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