BUZZ-NZ's Millennium & Copthorne Hotels rises after directors advise against takeover offer

Reuters

2025/02/10

** Shares of Millennium & Copthorne Hotels New Zealand MCK.NZ rise 1.4% to NZ$2.25

** Co's independent directors say CDL Hotels' offer to buy every MCK share it does not already own for NZ$2.25/share is "too low and inadequate"

** CDL Hotels currently owns 75.8% of co's shares

** The directors advise shareholders to take no action until they receive statement from CDL Hotels

** Stock fell 1.1% in 2024

(Reporting by Nichiket Sunil in Bengaluru)

((Nichiket.Sunil@thomsonreuters.com;))

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