21st Apr 2015 09:10
LONDON (Alliance News) - InterContinental Hotels Group PLC shares were trading higher on Tuesday amid continued speculation that an as-yet-unnamed US suitor is set to make a bid for the company, the Evening Standard reports.
Shares in the company closed higher on Monday on the back of the speculation and continued the rise on Tuesday morning, up 2.2% to 2,846.00 pence to be among the best performers in the FTSE 100.
On Monday, the Evening Standard said the company, who is understood to have refused a GBP6 billion offer last year, is facing pressure from investors to consider a tie-up with a rival, with Starwood Hotels named as a potential future partner.
http://www.standard.co.uk/business/markets/market-report-intercontinental-hotels-in-the-spotlight-after-bid-rumours-linger-10189165.html
By Sam Unsted; [email protected]; @SamUAtAlliance
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