Battle for Club Med hots up with €939m takeover offer
The new €24.60 offer valued Club Med at €939m
Chinese billionaire Guo Guangchang sweetened his bid for struggling Club Mediterranee at the last minute yesterday, trumping a €24-a-share offer from Italian tycoon Andrea Bonomi in France's longest-running takeover battle.
The new €24.60 offer, made a few hours before yesterday's eadline, valued the holiday operator at €939m. It is the eighth offer Club Med investors have been asked to evaluate since May 2013 when Guo first offered 17 euros.
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