27th May 2014 08:08
LONDON (Alliance News) - InterContinental Hotels Group PLC, the owner of the Crowne Plaza and Holiday Inn chains, has rejected a GBP6 billion takeover bid from a US company, according to weekend press reports.
Sky News reported on Saturday that InterContinental's board met a few weeks ago to consider an offer but rejected it on the grounds that it was too low.
Speculation that the unnamed US suitor may return to the negotiating table with a higher offer has caused InterContinental Hotels shares to lead the FTSE 100 gainers Tuesday, up 5.6% at 2,351 pence.
http://news.sky.com/story/1268257/intercontinental-rebuffs-secret-6bn-us-bid
By Jon Darby; [email protected]; @jondarby100
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