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Millennium & Copthorne independent directors recommend shareholders accept CityDev offer

PC Lee Published on Fri, Oct 20, 2017 / 3:21 PM GMT+8

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SINGAPORE (Oct 20): The independent directors of Millennium & Copthorne Hotels have agreed to support City Development’s takeover offer of 552.5 pence in cash.

See: City Developments to take Millennium & Copthorne private, values hotel group at $3.2 bil

The recommendation comes after Credit Suisse, financial adviser to M&C's independent directors, found CDL’s offer price to be fair and reasonable, says the two parties in a joint announcement today.

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Millennium & Copthorne independent directors recommend shareholders accept CityDev offer