Jurys may get higher offers

THE rejection of the €15.25 bid from Precinct Investments by Jurys Doyle may lead to an increased offer for the hotel chain, according to Goodbody Stockbrokers.

By turning down the offer, Jurys board has done two things. It set a marker for any other bids that may be out in the market, and/or it will force Precinct to up its offer.

“In our view, this could lead to a higher bid being made by Precinct Investments or it may act as a base valuation to other consortiums that could be interested in making a separate bid for the group,” Goodbody said.