M&C Hotels fight drags on; CDL's Kwek addresses dissenters
Singapore
THE fight for the future of London-listed Millennium & Copthorne Hotels (M&C) drags on with the opposing parties getting more dramatic in their exchange of words.
In a sternly worded letter to shareholders delivered late on Monday night, the billionaire boss of City Developments (CDL) Kwek Leng Beng sought to swat away what he said was a "disingenuous" argument put forth by a trio of minority investors seeking to block CDL's takeover of M&C on the basis that CDL's offer was deceptively or unrealistically low.
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