Accor bids for Australia’s Mantra Group
Paris/Melbourne – 9 October 2017 –
Accor has bid A$1.18 billion (US$920 million) for Mantra Group – a deal that would combine the two biggest hotel owners in Australia and seek to capitalise on surging tourism in the country, Reuters reported.
Accor, already the biggest hotelier in Australia, offered A$3.96 a share, or a 23 percent premium to Mantra’s closing price on Friday. The total offer is worth A$4.02 per share if a six-cent final dividend paid in 2017 is included, Mantra said in a statement.
“They haven’t lowballed it, that’s for … Read More