Singaporean real estate company City Developments has made a final offer to buy out shareholders of London-based hotel chain Millennium & Copthorne. The deal, which would be worth $2.84bn, will go through if over half of the remaining shareholders agree, and would be for £6.85 ($8.67) per share, a 37% increase from the closing price of £5 on 6 June. City Developments 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. . In an interview with Reuters, Mr Ong said that he was confident about his ability to raise funds in order to complete the deal.
Singaporean real estate company City Developments has made a final offer to buy out shareholders of London-based hotel chain Millennium & Copthorne. The deal, which would be worth $2.84bn, will go through if over half of the remaining shareholders agree, and would be for £6.85 ($8.67) per share, a 37% increase from the closing price of £5 on 6 June. In an interview with Reuters, Mr Ong said that he was confident about his ability to raise funds in order to complete the deal.