NH Hotels: Oddo still a buyer after Minor takes stake
(CercleFinance.com) - Oddo has confirmed its buy rating on the NH Hotels' stock, along with its target price of 6.
7 euros, after it announced that the Thai group Minor International had taken a 26.5% stake in its capital.
This transaction, about which the Spanish stock market regulator was notified on Tuesday, will increase Minor's total stake in the group to above the threshold of 30%, which would mean the launch of a mandatory takeover bid, Oddo said in its daily equity roundup.
The group has already announced that it will offer 6.4 euros per share to shareholders. The proposed price, which is broadly in line with the market, should interest shareholders, even though it is clear that speculation around the share (interest from Barcelo, speculation about participation in a sector concentration, etc.) and the recent surge in share price could represent a barrier to the deal, Oddo explained.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
7 euros, after it announced that the Thai group Minor International had taken a 26.5% stake in its capital.
This transaction, about which the Spanish stock market regulator was notified on Tuesday, will increase Minor's total stake in the group to above the threshold of 30%, which would mean the launch of a mandatory takeover bid, Oddo said in its daily equity roundup.
The group has already announced that it will offer 6.4 euros per share to shareholders. The proposed price, which is broadly in line with the market, should interest shareholders, even though it is clear that speculation around the share (interest from Barcelo, speculation about participation in a sector concentration, etc.) and the recent surge in share price could represent a barrier to the deal, Oddo explained.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.