Millennium & Copthorne Hotels New Zealand has announced that it has appointed Cameron Partners and Bell Gully to assist in responding to the takeover notice from CDL Hotels Holdings New Zealand.
The company also engaged Northington Partners to prepare an independent adviser report, which has been approved by the Takeovers Panel.
Millennium & Copthorne Hotels advised shareholders to refrain from taking any action regarding their shares until they receive a target company statement and the independent adviser's report.
The company clarified that the takeover notice does not apply to its listed redeemable preference shares.
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