CityDev extends final offer deadline for M&C Hotels to Jan 26

SINGAPORE (Jan 24): City Developments has extended its final offer deadline to 1pm, Jan 26, in its bid for Millennium & Copthorne Hotels plc.

This comes after the property group failed to receive more than 50% valid acceptances of offeree shares not owned by it at the first closing date of the final offer.

As at the deadline of 1 pm on Tuesday, total valid acceptances of 49.97 million shares had been received. This represents 44.21% of approximately 113 million offeree shares not owned by CDL and parties in concert with it.

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