BRIEF-City Developments Launches Takeover Offer For Millennium & Copthorne Hotels
June 7 (Reuters) - City Developments Ltd:
* CDL LAUNCHES TAKEOVER OFFER FOR MILLENNIUM & COPTHORNE HOTELS
* MAXIMUM CASH CONSIDERATION PAYABLE BY CDL AMOUNTS TO £776.29 MILLION
* OFFER IS FINAL AND WILL NOT BE INCREASED.
* FINAL OFFER VALUES ENTIRE ISSUED AND TO BE ISSUED ORDINARY SHARE CAPITAL OF M&C AT ABOUT S$3.86 BILLION
* CASH CONSIDERATION TO BE FUNDED THROUGH COMBINATION OF INTERNAL CASH RESOURCES & FUNDS UNDER A CREDIT FACILITY
* CDL BELIEVES THAT IT WILL HAVE TO BECOME INCREASINGLY INVOLVED IN OPERATIONAL AND FINANCIAL MANAGEMENT OF M&C.
* WHEN FINAL OFFER BECOMES UNCONDITIONAL, M&C WILL APPLY FOR DE-LISTING FROM OFFICIAL LIST OF UK FINANCIAL CONDUCT AUTHORITY
* BARCLAYS BANK, MERRILL LYNCH (SINGAPORE) ACTING AS JOINT FINANCIAL ADVISERS; LINKLATERS LLP IS ACTING AS LEGAL ADVISER TO CDL Source text for Eikon: Further company coverage: