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CDL sweetens offer for M&C Hotels

Mr Kelley says the final offer for M&C enables shareholders to exit at a substantial premium.


CITY Developments Limited (CDL) has raised its offer price to acquire the remaining stake in London-listed Millenium & Copthorne Hotels (M&C) that it does not yet own, in a deal that M&C's independent directors have agreed to.

CDL, a majority shareholder which...