CORRECTED-Singapore's CDL to buy rest of Britain's Millennium & Copthorne [Reuters]
CITY DEVELOPMENTS S/ADR (CDEVY)
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Source: Reuters
CORRECTED-Singapore's CDL to buy rest of Britain's Millennium & Copthorne - Reuters 1 Min Read (Corrects headline to drop reference to deal value. Also, corrects first paragraph to clarify that the company is not being bought for 2.23 billion pounds, but is valued at that amount.) June 7 (Reuters) - Singapore-listed real estate firm City Developments (CDL) said on Friday it will buy the rest of Millennium & Copthorne Hotels Plc it does not own in a deal valuing the London-listed company at 2.23 billion pounds ($2.84 billion). The offer represents a premium of about 37% to Millennium & Copthorne’s closing price of 500 pence on Thursday. Shares of Millennium & Copthorne surged 35% to 680 pence after the announcement, topping gainers on the FTSE midcap index . $1 = 0.7847 poundsReporting by Samantha Machado in Bengaluru; Editing byShinjini Ganguli All quotes delayed a minimum of 15 minutes. See here for a complete list of exchanges and delays. Š 2019 Reuters. All Rights Reserved.
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News
- Millennium Hotels and Resorts Partners with Aiello to Revolutionize Hospitality with AI Voice Technology [Yahoo! Finance Canada]Yahoo! Finance Canada
- Billionaire Kwek Leng Beng's CDL Sells 20% Of Singapore Luxury Condo Amid Tepid Demand [Forbes]Forbes
- Tycoon Ong Beng Seng's HPL Buys Concorde Hotel Singapore In Deal Valued At $620 Million [Forbes]Forbes
- Shareholders in City Developments (SGX:C09) are in the red if they invested five years ago [Yahoo! Finance]Yahoo! Finance
- Billionaire Kwek Leng Beng's CDL Revives China Bet With Shanghai Property Purchase [Forbes]Forbes