This operation represents a total of 187,289 383 shares in NH Hotel Group or 47.8% of its available shares, allowing Minor International to acquire 94.1% of shares in the Spanish group.
The group MINT (Minor International) completed its tender offer following a refusal from the board of directors. The latter felt that the public bid of 6.3 euros par action “does not adequately reflect the value of the shares”. Upon the advice of Bank of America Merrill Lynch, the board indicated that this offer was “financially insufficient”.
For more information: Minor's takeover bid for NH: NH's board of directors votes against it
With this operation, the Thai group took another step to expand its supply internationally. If you wish to learn more about Minor, read our article: [In Images] Who is Minor Hotels?