The Doyle family consortium has made a €1.25b (£858m) bid for Jurys Doyle hotel group, offering shareholders €18.90 (£13) per share.
In turn, Jurys Doyle's board has recommended the cash offer made by Goldman Sachs on behalf of JDH Acquisitions.
JDH Acquisitions currently holds nearly 42% of the Irish hotel group.
The offer represents a 41.5% increase over the closing price of Jurys Doyle shares (€13.36 (£9.20)) before the offer period began on 6 May 2005.
It is not yet know what major shareholder Sean Dunne, the Irish developer who is about to complete on the purchase of the Dublin Ballsbridge site for €260m (£178m), will do next.
By Emily Manson
Get your copy of Caterer and Hotelkeeper every week - click here to subscribe and save 25%.
|Sudoku Join the craze and play Sudoku online!|