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NH Hotel Bidder Says Counteroffer From Hyatt Has Come Too Late

Charles Penty
NH Hotel Bidder Says Counteroffer From Hyatt Has Come Too Late

Hyatt Hotels Corp.’s interest in acquiring NH Hotel Group SA has come too late to stop rival Minor International Pcl’s own tender offer for the Spanish company, Dillip Rajakarier, chief operating officer of the Thai bidder said. Hyatt sent a letter to NH Hotel indicating its interest in acquiring the chain of more than 370 hotels, the company said on Thursday. Any resulting bid from Chicago-based Hyatt would be in competition with Minor’s tender offer, which valued the portion of NH Hotel it didn’t own at 1.64 billion euros ($1.91 billion) in early June, when the plans were first announced.