Ireland's largest hotel group, Jurys Doyle, said on Monday it had rejected an 960 million euro (660 million pound) takeover bid by Precinct Investments Ltd., saying it did not reflect the company's value.
"The board has now rejected the approach as, in the opinion of the board, it fails to reflect the value of Jurys Doyle and its prospects," the company said of the unsolicited 15.25 euro per ordinary share offer in a statement.
Jurys, which operates more than 30 properties in Ireland, the UK and the United States, announced last Monday it had received the bid from Irish-based consortium Precinct, sending its shares to an all-time high of 15.2 euros.
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Source - Reuters
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