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Singapore's second-largest realtor makes offer for Millenium Hotels

City Developments said that it has made a final offer for the London-traded hotel chain at 685 pence per share

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M&As nearly doubled to $100 billion in 2018; highest in value after 2013

Singapore’s second-largest property developer is offering to buy out shareholders of Hotels in a deal that would value the company at $2.84 billion. said in a statement on Friday that it has made a final offer for the London-traded hotel chain at 685 pence per share, representing a 37 per cent premium to the June 6 closing price of 500 pence.
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City already owns 65.2 per cent of the shares in the company, and the final offer is conditional on more than half of the remaining shareholders accepting, according to the statement. The chain comprises 135 hotels in the UK, Middle East, New Zealand and other countries, according to its website.
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First Published: Sun, June 09 2019. 00:53 IST
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