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IHG Reportedly Turns Down Takeover Bid

IHG Reportedly Turns Down Takeover Bid

InterContinental Hotels Group has rejected a secret takeover offer from an unknown bidder, according to Sky News. The report states that IHG’s board met a few weeks ago to consider the offer, but dismissed it on the grounds that it was too low. Sources said that IHG was braced for the bidder or a rival to return, with U.S. hotel operators understood to be enticed by the prospect of moving their tax domicile to the U.K. in a process known as a tax inversion. During the first quarter of 2014, IHG’s global RevPAR was up 6 percent and the net system size expanded to 689,000 rooms. Read more over at Sky News.

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