InterContinental share price rises after hotel group rejects Marcato report suggesting merger would see share price double

first_img Show Comments ▼ More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgUK teen died on school trip after teachers allegedly refused her pleasnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org Tags: Mergers and acquisitions InterContinental share price rises after hotel group rejects Marcato report suggesting merger would see share price double whatsapp Share Ollie Gordon whatsapp Tuesday 11 November 2014 9:16 pm Activist US hedge fund Marcato Capital Management yesterday lit a fuse under the independence of British hotels giant InterContinental Hotels Group by calling for the firm to actively seek a merger, claiming it could double its share price.The San Francisco-based Marcato also publicly released a report it had commissioned from LA-headquartered financial advisers Houlihan Lokey supposedly proving the strategic value of a merger.Marcato said that the evaluation showed that joining forces with a rival hotel could double IHG’s share price. The company said: “Marcato found that an equity combination could deliver a premium upwards of 100 per cent over IHG’s current share price.”IHG released a response, saying it had rejected the proposal after analysing the report. IHG shares rose 3.42 per cent to 2,537p. last_img

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