Rueben brothers out of Jurys race
The Irish Stock Exchange’s Takeover Panel said Aldersgate Investments, the brothers’ investment vehicle, could play no further part in making a bid for the hotel operator because of its links to Precinct Investments, owner of the Gresham group that walked away from a potential bid last month. Stock exchange rules dictate parties that fail to make a bid before a Takeover Panel deadline must wait 12 months before making a fresh approach. Aldersgate had been a supporter of the Precinct approach, which originally valued Jurys Doyle at €960 million before upping its indicative price to €1.1 billion.
But the approach collapsed after Precinct ran into trouble securing bank financing for the deal and the Jurys board pulled the plug on its support.
