Barcelo Hotel has just received a rejection from NH Hotels, to whom the hotel group had sent an offer last November to buy the company. 2.48 billion euros. The merger would have created a Spanish hotel giant with 600 hotels worldwide. The Board of Directors of NH Hotels unanimously turned down the offer. Several reasons were given: according to the group, " The exchange ratio does not reflect the relative valuation of the two companies ". In addition, this proposal " does not take into account the potential of independent revaluation of NH ". In addition - again according to NH Hotels - Barcelo's offer " does not reflect the growth potential of NH's results, nor the value of the assets it owns in Europe ".
NH Hotels remains confident in its strategic plan
NH Hotels was also unhappy that the offer did not include no liquidity alternative for shareholders of the Group. This choice is also explained by the confidence that the Group's managers have placed in their strategic plan. According to them, it brings " a solid revenue growth and a operational improvement significant ". Despite this rather dry rejection, NH does not close the door to other offers potential " which would be assessed on the basis of the real value they could generate for all NH Hotel Group shareholders ".
