Rivals remain all square
Article Abstract:
Hilton Hotels is seeking to acquire ITT with an offer of $55 per share. Meanwhile, ITT has sold a half share in Madison Square Garden arena in addition to other assets linked to the arena, to Cablevision. The price is seen as favorable to ITT which has more leeway to defend itself against Hilton Hotels following the sale. ITT could buy its own shares or use the funds raised for an acquisition. ITT's shares are priced at some $58.5 which means that the market expects a better offer from Hilton.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1997
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Country Club gives Regal national status
Article Abstract:
Regal Hotels is buying 13 Country Club Hotels from Whitbread and will make no further acquisitions for a year. The company bought 60 hotels from Granada in 1996 and has a national hotel chain following the latest acquisition. The Country Club acquisition should help Regal find funds for refurbishment and economies of scale should result from the setting up of a national chain. Growth could result from an investment in the White Hart hotels.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1997
User Contributions:
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