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City Developments ( (SG:C09) ) has provided an update.
CDL Hotels Holdings New Zealand Limited has increased its takeover offer for Millennium & Copthorne Hotels New Zealand Limited to $2.80 per share, making the offer unconditional and waiving the 90% minimum acceptance condition. The Independent Directors Committee is reviewing the new offer and will advise shareholders by 28 April 2025, recommending no immediate action until then.
More about City Developments
Millennium & Copthorne Hotels New Zealand Limited (MCK) is the only NZX-listed hotel owner-operator in New Zealand, managing 18 hotels under various brands such as Millennium, Grand Millennium, M Social, Copthorne, and Kingsgate. It is part of a global network with over 120 properties worldwide and holds significant interests in land development and property in Australia.
YTD Price Performance: -2.66%
Technical Sentiment Signal: Buy
Current Market Cap: $3.29B
For a thorough assessment of C09 stock, go to TipRanks’ Stock Analysis page.