Jurys receives new improved offer

Precinct Investments, owner of Gresham hotels, yesterday improved its offer for the Jurys Doyle Hotel Group having being rebuffed twice before.

The group has pledged €16.50 per share (£11.33), 25 cents more than its last offer, representing a 32% premium on the Irish hotel group's share value before the current offer period commenced.

Precinct's directors said they were confident they could deliver an attractive offer to all the shareholders of Jurys Doyle.

Precinct has previously offered €16.25 (£10.97) and €15.25 (£10.37) per ordinary share for the 33-strong hotel chain.

The offers were rejected because they undervalued the company, according to Jury's board of directors.

Jurys Doyle has hotels in Ireland, the UK and USA.

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