|Bid||0.0000 x 220000|
|Ask||0.0000 x 220000|
|Day's Range||4.4280 - 4.4280|
|52 Week Range||3.8280 - 6.7350|
|Beta (3Y Monthly)||1.08|
|PE Ratio (TTM)||21.29|
|Forward Dividend & Yield||0.15 (3.27%)|
|1y Target Est||N/A|
NH Hotel Group SA should put little weight on an expression of interest from Hyatt Hotels Corp., suitor Minor International Pcl told the board of the Spanish hotel operator in a letter. Hyatt’s approach to NH Hotel is preliminary and nonbinding, indicating that it’s not a serious proposal, Stephen Chojnacki, chief commercial officer and general counsel for Bangkok-based Minor, said in the July 29 letter. Hyatt’s proposal to separate NH Hotel’s real estate from its hotel-management business risks stripping away assets and would lead to major cost cutting, Chojnacki said in the letter, a copy of which was seen by Bloomberg News.
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.
Hyatt Hotels Corp., the lodging company founded by the billionaire Pritzker family, has sent a letter to NH Hotel Group SA indicating its interest in acquiring the Spanish hotel operator. “Hyatt has a demonstrated track record of making strategic investments to extend the reach of our brands and create value for our stakeholders,” Mark Hoplamazian, Hyatt’s president and chief executive officer, said in an emailed statement Thursday to Bloomberg. Any potential offer from Chicago-based Hyatt would provide an alternative for NH Hotel shareholders, who are weighing a tender offer from Thailand’s Minor International Pcl.