NZ's Millennium & Copthorne Hotels rises after directors advise against takeover offer

Millennium & Copthorne Hotels New Zealand

10/02/2025 03:41

** Shares of Millennium & Copthorne Hotels New Zealand
 MCK.NZ  rise 1.4% to NZ$2.25
    ** Co's independent directors say CDL Hotels' offer to buy
every MCK share it does not already own for NZ$2.25/share is
"too low and inadequate"
    ** CDL Hotels currently owns 75.8% of co's shares
    ** The directors advise shareholders to take no action until
they receive statement from CDL Hotels
    ** Stock fell 1.1% in 2024

 (Reporting by Nichiket Sunil in Bengaluru)
 ((Nichiket.Sunil@thomsonreuters.com;))