Rivals remain all square

Article Abstract:

Hilton Hotels is seeking to acquire ITT with an offer of $55 per share. Meanwhile, ITT has sold a half share in Madison Square Garden arena in addition to other assets linked to the arena, to Cablevision. The price is seen as favorable to ITT which has more leeway to defend itself against Hilton Hotels following the sale. ITT could buy its own shares or use the funds raised for an acquisition. ITT's shares are priced at some $58.5 which means that the market expects a better offer from Hilton.

Hilton Hotels Corp., HLT, ITT, ITT Corp.

---

Country Club gives Regal national status

Article Abstract:

Regal Hotels is buying 13 Country Club Hotels from Whitbread and will make no further acquisitions for a year. The company bought 60 hotels from Granada in 1996 and has a national hotel chain following the latest acquisition. The Country Club acquisition should help Regal find funds for refurbishment and economies of scale should result from the setting up of a national chain. Growth could result from an investment in the White Hart hotels.

Whitbread PLC, Regal Hotel Group

---

Similar abstracts:

• Abstracts: It's time to make up your mind. Bid rivals face new menu. The great Forte raid
• Abstracts: Index-linked gilts to stay the odd man out. A shock in store
• Abstracts: UK equities: end of the party? Labouring under historical bunk. Labouring under election uncertainty
• Abstracts: Watt to do with your energy shares. Delays to hit gilts deals. Moving stories
• Abstracts: Emu turns turkey. Get ready for the great Euro-binge. Some like it hard, most want it soft

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.