The Caterer

IHG denies speculations of a sale or merger

09 November 2015 by
IHG denies speculations of a sale or merger

InterContinental Hotels Group (IHG) has denied speculation that it is considering a sale or a merger.

Suggestions that the group was on the point of sale or merging have been rife all year, leading it to deny several times that it was considering the move.

In a statement released on its website this weekend, the company said: "Following recent market speculation, the Board of Directors of IHG states that it is not considering a potential sale or merger of the company."

The denial comes four months after the group was forced to deny rumours of a possible merger with Starwood Hotels & Resorts, after shareholder, San Francisco-based investment company MCM, which had held 4% of the company, had appointed financial advisors to undertake a strategic review of the company.

The company revealed a 6% profit increase in its half year results in August this year, as rumours continued to circulate that a merger was imminent.

IHG operates almost 5,000 hotels worldwide.

IHG reports 6% profit increase as shareholder pushes for merger >>

IHG denies merger talks with Starwood >>

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