Is CDL's sweetened offer more palatable to M&C shareholders?

Singapore

AFTER minority shareholders of Millennium & Copthorne Hotels (M&C) objected to the price offered by parent company City Developments (CDL) to take the London-listed hotelier private, CDL bumped up its bid last Friday.

But the fund managers who had criticised CDL's original offer are yet to give any indication of how they plan to vote.