Gresham bid deadline extended

A BID by three property developers to gain control of the Gresham Hotel Group has attracted acceptances from just 28.3% of shareholders.

Precinct, the bid vehicle controlled by JJ Murphy, David Coleman and Brian Cullen, has offered €1.30 per share for Gresham, rising to €1.35 if more than 80% of shareholders back the deal.

Precinct has extended the deadline for Gresham shareholders to accept the bid to June 29.