Permira Interest Forces Up de Vere Price by Pounds 22m

Evening Standard - London (June 29, 2006)

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Summary

THE price tag for hotelier De Vere Group went up another Pounds 22 million today, to Pounds 745.4 million, after continued circling from suitor Permira forced property magnate Richard Balfour-Lynn to raise the stakes via his privately owned Alternative Hotels Group.

Private-equity giant Permira said it was still "considering whether to make an offer for De Vere" after the board, headed by chief executive Carl Leaver, recommended AHG's 850p-per-share cash offer, up 15p from its bid made lastweekend and fully financed by Bank of Scotland.

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Permira Interest Forces Up de Vere Price by Pounds 22m

The bid includes a Poun...

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