On Air Now

Upcoming Shows

Program Schedule »

Listen

Listen Live Now » 1230 AM Sioux Falls, SD 98.1 FM Sioux Falls, SD

Weather

Current Conditions(Sioux Falls,SD 57104)

More Weather »
66° Feels Like: 66°
Wind: SSE 18 mph Past 24 hrs - Precip: 0”
Current Radar for Zip

Today

Thunderstorms 79°

Tonight

Isolated Thunderstorms 68°

Tomorrow

Sunny 90°

Alerts

Intercontinental rejected $10 billion offer from U.S. suitor: Sky

An employee sets a table inside a restaurant at the Crown Plaza hotel, run by the InterContinental Hotels Group (IHG), in New Delhi January
An employee sets a table inside a restaurant at the Crown Plaza hotel, run by the InterContinental Hotels Group (IHG), in New Delhi January

LONDON (Reuters) - The world's largest hotelier, Intercontinental Hotels Group (IHG) , has rejected a 6 billion pound ($10.1 billion) takeover offer from a U.S. bidder, Sky News reported, citing unidentified sources.

Sky said IHG's board met a few weeks ago to consider the offer, but turned it down on the grounds it was too low.

A spokeswoman for IHG, which runs 4,700 hotels with brands such as Crowne Plaza, Holiday Inn and Intercontinental, declined to comment on the report.

Sky said the identity of the bidder was unclear, but cited analysts as saying it might have been Starwood Hotels & Resorts or a specialist investment fund such as Starwood Capital.

Sky said IHG was braced for the bidder to return with a new offer, or for a rival suitor to come forward.

($1 = 0.5938 British Pounds)

(Reporting by Li-mei Hoang; Editing by Mark Potter)

Comments