IHG share-holder urges company to consider global merger

30 May 2014 by
IHG share-holder urges company to consider global merger

A minority share-holder of InterContinental Hotels Group (IHG) has urged the global hospitality group to pursue a merger following reports that it had turned down an offer from an unnamed bidder.

Marcato Capital Management (MCM), a hedge fund company based in San Francisco, is quoted in the New York Times as saying that a merger between IHG and another major hotel operator would represent "a unique opportunity to reshape the global hospitality industry".

MCM owns 3.8% of the shares of IHG, which operates the Holiday Inn and Crowne Plaza brands.

Richard McGuire, MCM's founder and managing partner, said: "We believe that a combination with a larger hotel operator would have compelling strategic and financial merit."

Earlier in the week it was rumoured that a bid had been made for IHG from a US-based hotel group such as Hilton Worldwide, Wyndham Hotels & Resorts or Starwood Hotels & Resorts.

TagsFinance and Hotels
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