A new suitor has emerged for iconic resort brand Club Méditerranée – already the target of Chinese-led partnership – while Sky News has reported that the board of InterContinental Hotels Group (IHG) rejected a £6 billion takeover offer, potentially from arch-rival Starwood Hotels and Resorts.
Italian businessmen Andrea Bonomi, who already owns an 11% stake in Club Med, confirmed Monday he was considering launching a takeover for the company through a private equity fund he controls.
Rival bidder Fosun International and its partner, investment firm Ardian, which between them own 40% of Club Med, are saying little after the deadline for their initial offer of €17.50 a share, expired last Friday.
Club Med shares closed at €19.16 yesterday.
Meanwhile, IHG is not commenting on news that it knocked back a £6 billion takeover offer several weeks ago because it was too low.
Rumours suggest it may have come from Starwood though that has not been confirmed by either party.
IHG operates 4600 hotels in 100 countries across the Holiday Inn, Holiday Inn Express, Crowne Plaza, Hotel Indigo, InterContinental, Staybridge Suites and Candlewood Suites brands.