New offer for Millennium Copthorne still falls short – NZSA CEO

Initial offer valued firm at about $237 million. (Image: NZME)

Tue, 22 Apr 2025

A new offer from CDL Hotels Holdings New Zealand for the shares in Millennium & Copthorne Hotels New Zealand would seem to still fall short, says NZ Shareholders Association chief executive Oliver Mander.The shares jumped 27% to $2.75 after the subsidiary of the Singapore Stock Exchange-listed City Developments (CDL) increased its offer to $2.80 per share from $2.25 per share. In January, CDL launched a takeover bid for the 24.1% of the hotel owner and operator it doesn’t already own, valuing the firm at about $237 million. ...

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