Netherlands' PPHE top loser on UK midcaps after Fattal bid falls through
Today 08:26
BUZZ-Netherlands' PPHE top loser on UK midcaps after Fattal bid falls through ** Shares of Netherlands-based hotel group PPHE PPH.L fall 10.5% to 1,790 pence; top loser on FTSE mid cap index .FTMC
** Co says £920.9 million takeover offer from Israel's Fattal Hotel Group no longer deliverable after largest shareholder Euro Plaza Holdings, which holds 33% stake, opposes the bid
** Fattal had proposed possible cash offer of 22 pounds per share, which PPHE said in May represented fair value
** Co says it received another preliminary proposal from unidentified party on May 31 and would seek to conclude strategic review "as expeditiously as possible"
** As of last close, stock up 11.4% YTD while FTMC rose ~3.5%
(Reporting by DhanushVignesh Babu in Bengaluru)
Recent news on PPHE Hotel
See all newsNetherlands' PPHE top loser on UK midcaps after Fattal bid falls through
Brief: Fattal Hotels Confirms It Will Not Make An Offer For PPHE Hotel Group
Statement of intention not to make an offer
Netherlands' PPHE top loser on UK midcaps after Fattal bid falls through
Investor opposition ends $1.2 billion PPHE-Fattal hotel deal talks (updated)