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Hot Topic Budget 25
Hot Topic Budget 25
Investment
2 mins to read

Catch 22 presented to Millennium & Copthorne minorities

An increased offer by Singaporean majority owner CDL is still a 'material discount' to the assets of the hotel group, but shareholders can expect a 'material' drop in the trading price and dividends to dry up if they don't accept.

Auckland's Grand Millennium hotel.

Millennium & Copthorne has stuck to its guns in advising minority shareholders not to accept CDL Hotels Holdings' updated offer.

In a letter to shareholders today, independent directors in the NZX-listed hotel group said they believe the revised offer price of $2.80 per share by the

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Brent Melville Mon, 28 Apr 2025
Contact the Writer: bmelville@nbr.co.nz
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Catch 22 presented to Millennium & Copthorne minorities
Investment,
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