The Dalata Hotel Group, which operates the Clayton and Maldron brands, has rejected a takeover proposal by property companies Pandox and Eiendomsspar, based respectively in Sweden and Norway.
A statement issued by Dalata said the consortium’s offer of €6.05 per share, at a reported total of €1.3 billion, “materially undervalues the group and its prospects” and was unanimously rejected.
A statement issued by Pandox and Eiendomsspar said: “As established hotel investors with deep knowledge of the European hospitality sector, and experience from successfully executing similar transactions in the UK and Ireland, the consortium is well-positioned to support Dalata’s business and long-term growth ambitions.”
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