Club Med battle ends with Fosun consortium victory
Shareholders in French vacation resort operator Club Méditerranée (Club Med) have accepted a EUR939 million ($1.1 billion) takeover offer from a consortium led by China's Fosun International, bringing the longest takeover battle in French history to its conclusion.
The consortium made a sweetened offer in December, valuing the company at EUR24.60 per share - EUR1.50 above its previous offer and EUR7.60 higher than its initial bid two years ago.The Fosun consortium...
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