Elegant Hotels Group Plc (LON:EHG) noted today the recent press speculation concerning the possibility of an offer being made for the company.
The Board announced today that it had received an approach from Melia Hotels International SA “Melia Hotels” relating to a possible all cash offer for all of the issued and to be issued share capital of the Company which may be made by Melia Hotels or one of its investment affiliates. The Company further announces that discussions with Melia Hotels have now been terminated, and that Melia Hotels does not intend to make an offer to acquire the entire issued and to be issued ordinary share capital of Elegant Hotels.
This announcement is made in accordance with Rule 2.8 of the Code. As a result of this announcement, Melia Hotels will, except with the consent of the UK Panel on Takeovers and Mergers, be bound by the restrictions contained in Rule 2.8 of the Code.