• Shareholder backs IHG merger

IHG shareholder Marcato Capital has urged the company’s management to look seriously at any takeover offer. The hedge fund, which holds 3.8% of IHG stock, said a merger would present “a unique opportunity to reshape the global hospitality industry”, reports the New York Times.

In recent days, IHG management have revealed they rebuffed an approach from an unnamed US suitor. Marcato chief Richard McGuire said a merger would have compelling strategic and financial merits.
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