Millennium & Copthorne privatisation unlocks value for City Developments, say analysts
Michelle Zhu • • 4 min read
SINGAPORE (Oct 10): Brokers are unanimously positive on City Developments' potential offer for Millennium & Copthorne Hotels, given that the acquisition will be value accretive to the group.
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SINGAPORE (Oct 10): Brokers are unanimously positive on City Developments' potential offer for Millennium & Copthorne Hotels, given that the acquisition will be value accretive to the group.
On Monday, the developer announced it is offering 552.5 pence each for the remaining shares in M&C it does not own, in a deal which values the hotel group at £1.8 billion ($3.2 billion).
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