Takeover Response
in relation to the
takeover offer from
CDL Hotels Holdings
New Zealand Limited
- Cameron Partners advised the Independent Directors of Millennium & Copthorne Hotels NZ (MCK) in relation to the unsolicited takeover offer from CDL Hotels Holdings New Zealand Limited (CDLHH NZ), a subsidiary of City Developments Limited
- MCK, a major hotel owner-operator across New Zealand, is listed on the NZX
- Prior to the offer, CDLHH NZ owned approximately 75% of MCK. The offer and subsequent increased offer were not recommended by the Independent Directors
- The offer closed without reaching the 90% threshold
- Cameron Partners advised the Independent Directors on all aspects of the response including valuation and communications with shareholders
