Pandox-led consortium makes €1.4B bid for Dalata, board to recommend offer

A consortium of Pandox AB and Eiendomsspar AS has made a strong offer of €1.4 billion for the Dalata Hotel Group, which the Dalata board plans to endorse unanimously.

Dalata, the largest hotel operator in Ireland, had previously rejected an earlier bid from this consortium and is currently exploring negotiations with other potential buyers.

The new bid of €6.45 per share is an increase of 40 cents from the initial offer, providing a 35.5% premium over Dalata's stock price before the strategic review began in March.

Recommendation Rating: Strong Offer

A consortium comprising Pandox AB (OTCPK:PNDXF) and Eiendomsspar AS has made a substantial offer of €1.4 billion (approximately $1.6 billion) for the Dalata Hotel Group (OTCPK:DLTTF). The board of Dalata intends to unanimously endorse this proposal.

Dalata Hotel Group, the largest hotel operator in Ireland, had previously turned down an earlier offer from the same consortium, indicating its intention to explore negotiations with other potential buyers as part of an ongoing sales process that began earlier this year.

The new offer of €6.45 per share represents an increase of 40 cents from the initial bid and reflects a 35.5% premium compared to Dalata’s stock price prior to the initiation of a strategic review in early March.