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EU: InterContinental eyes merger to double share price

By  |  November 11, 2014

An InterContinental Hotels Group activist investor says the company could double its share price if its agrees to merge, according to reports.

Marcato Capital Management, a hedge fund that owns about four percent of InterContinental, has hired investors to advise on a review of the company, ultimately finding that a merger with a market peer could lead to significant growth.

Marcato sent a letter to fellow InterContinental investors with the findings, say reports.

The company is Europe’s second-largest public hotel operator, according to reports. InterContinental has previously disclosed plans to expand throughout the US, China and India.

Marcato did not reveal which competitors InterContinental should consider for a merger deal, however.

Full content: Bloomberg

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