Largest Gresham shareholder rejects offer

Gresham Hotel Group today said its largest shareholder  rejected a revised approach of €1

Gresham Hotel Group today said its largest shareholder  rejected a revised approach of €1.35 a share for the company that had been made by a consortium of investors.

The revised approach is conditional on the receipt of at least 80 per cent acceptances and so as a result of the shareholder's rejection the offer could not be recommended by the board.

The shareholder holds a more-than 20 per cent stake.

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