InterContinental Hotels denies business sale speculation

Tue, 10 Nov 2015 | BUSINESS NEWS

InterContinental Hotels Group (IHG) has denied the speculation surrounding a potential business sale or merger.

Reports led by Bloomberg last week (6 November) suggested that the group is exploring strategic options, including a sale or a merger. The group was in talks with financial advisors, according to the news source, which cited people with knowledge of the matter.

However, InterContinental has since come out to strongly deny the speculation. The group issued a statement to the London Stock Exchange to clarify its position: “Following recent market speculation, the board of directors of IHG states that it is not considering a potential sale or merger of the company.”

The speculation saw the company's shares climb five per cent to a four-month high on the back of the rumours regarding the potential sale or merger.

These latest reports came after the media in July suggested that IHG, the owner of Holiday Inn and others, was in talks with Starwood Hotels & Resorts over a possible merger. These were later denied by the group.

IHG runs almost 5,000 hotels and has seen a strong performance recently, last month reporting that it saw higher than expected growth in the third quarter and noting that it is confident of its outlook.


View leisure businesses and hotels for sale.


Share this article



Latest Businesses for Sale

Major Innovator of Job Search Technology & Related Platforms
East of England, UK

One of the top job search portals - developed in-house - with over 1m UK-based vacancies available from employers operating in nearly all sectors across the UK. Also develops & operates a series of complementary platforms & mobile apps for use within...

Asking Price: Offers Invited
Turnover: £3,400,000

Supply of Flanges, Butt Welds & Machining
UK Wide

Manufacture and supply of high quality, hard metal, flanges and butt welds with machining services. Enviable reputation. Niche offering. Long standing relationships with suppliers. In-house manufacturing capabilities. Diverse client base including m...

Asking Price: Offers Invited
Turnover: £1,100,000

Road Surfacing & Civil Engineering Contractor
Scotland, UK

Public and private sector road surfacing and civil engineering contractor with a prestigious Royal Warrant for Road Maintenance. Provides roadworks, groundworks and civil engineering services. Diverse customer base including Royal Estates, local auth...

Asking Price: Offers Invited
Turnover: £3,800,000


View more businesses for sale

News Search

Latest News

 
19
 
Jan
 

Luxury lodging group enters administration | ADMINISTRATION

An Essex-based company which operates eight luxury lodge par...

 
17
 
Jan
 

Fine paper business enters administration | ADMINISTRATION

Arjowiggins UK, which operates a number of trading companies...

 
15
 
Jan
 

Hawk Plant enters administration | ADMINISTRATION

The Shropshire company, that has previously undertaken landm...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
12
 
Sep
 

Three Aberdeen businesses go into administration | ADMINISTRATION

Three hospitality and leisure venues in Aberdeen have been p...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources