Millennium & Copthorne Hotels New Zealand has announced that CDL Hotels Holdings New Zealand has increased its offer price to acquire all of the company's ordinary shares.
The offer price has been raised from $2.25 to $2.80 per share.
CDLHH NZ has also waived the 90% minimum acceptance condition, received Overseas Investment Office approval, and declared the offer unconditional.
The independent directors committee of Millennium & Copthorne is currently assessing the increased offer and will provide a recommendation to ordinary shareholders by April 28, 2025.
Shareholders are advised to take no action pending the recommendation.
The closing date for the offer remains May 8, 2025.
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