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Italian Investor Makes $1.1B Bid for Club Med

Italian Investor Makes $1.1B Bid for Club Med

Italian investor Andrea Bonomi offered 21 euros per share for French resort operator Club Mediterranée on Monday, a 22 percent premium to an existing 17.50 euro-a-share offer by French private equity firm Ardian and Chinese conglomerate Fosun International, according to this report from Reuters. Club Med said its board will review the latest takeover offer, which values the all-inclusive vacation company at 790 million euros ($1.1 billion), and has extended the mandate of financial advisor Rothschild & Cie. THe new offer has fueled hops of a bidding war for control of the company, the article adds.

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