Precinct offer too low, says Jurys

JURYS Doyle has put pressure on potential buyer Precinct Investments to put a firm offer on the table for the hotel chain, it emerged yesterday.

After two days of deliberations by the board, no statement was issued regarding the third unsolicited offer from Precinct that was made on July 13, which upped its outline offer to €16.50 per share, valuing the group at €1.04 billion.

It is understood that the Jurys board does not regard the €16.50 as adequate, given the huge boost to the value of the Ballsbridge property site, which is now estimated to be worth €260 million.