|
|
|
| April 19, 2006 | Wednesday | Rabi-ul-Awwal 20, 1427 |
Bid for hotels
OTTAWA, April 18: Shareholders of Canada’s iconic Fairmont Hotels and Resorts on Tuesday approved a US$3.9bn takeover offer by Saudi Prince Alwaleed bin Talal and Colony Capital, the company announced.
The deal, worth US$45 per share, must still be approved by a Canadian court and satisfy a group of debt holders who are expected to argue for more cash during a hearing on Thursday, Fairmont said in a statement.
AFP
|
|
|
|
