30th Nov 2015 06:38
LONDON (Alliance News) - Chinese bidders are understood to be eyeing a bid for InterContinental Hotels Group PLC after rival Starwood Hotels & Resorts Worldwide agreed to be acquired by rival Marriott, The Daily Telegraph reported.
City sources told the newspaper that IHG has been left vulnerable by the merger of Starwood and Marriott, and three Chinese suitors - including Shanghai Jin Jiang International Hotels Group, airline owner HNA Group and sovereign wealth fund China Investment Corp - all were understood to have run the rule over Starwood prior to the deal.
The sources said these three will now likely turn their attention to IHG, the owner of the Holiday Inn chain, though no approach has yet been made.
http://www.telegraph.co.uk/finance/newsbysector/epic/ihg/12023839/Chinese-eye-InterContinental-after-Starwood-falls-to-Marriott.html
IHG earlier this year had been discussed as an alternative merger partner for Starwood.
By Sam Unsted; [email protected]; @SamUAtAlliance
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