Radisson Tells Investors To Spurn Consortium's $778.4M Bid
Law360 (January 2, 2019, 1:22 PM EST) -- Radisson on Wednesday warned investors against accepting a takeover offer from a consortium led by state-owned tourism and hospitality company Jin Jiang International that values the hotel operator at about 7 billion Swedish krona ($777 million), contending the bid is too low.
The SEK40 per Radisson Hospitality AB share bid came last month after the consortium, which also includes SINO-CEEF Capital's European investment vehicle SINO-CEE Fund, acquired a 50.21 percent stake in the Belgium-headquartered hotel operator in mid-November at SEK35 per share.
Under the Swedish Public Takeover Act, the consortium was obligated to make an offer for the remaining outstanding shares...
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