Millennium & Copthorne majority owner bids to buy out minorities
Singaporean CDL offers $2.25 for 24% of hotel company it doesn’t already own – well below MCK’s net tangible asset value of $3.36 per share.
Millennium & Copthorne’s MSocial hotel in Auckland.
Millennium & Copthorne Hotels’ Singapore-based majority owner City Developments Ltd has announced it intends to make an offer for the 24.14% of the NZX-listed company it doesn’t already own.
CDL is offering $2.25 per share in cash, which it said is a 25% premium to the share price at Friday’s
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