New deadline for Gresham bid

THE bidder for the Gresham Hotel group has extended the deadline for shareholders to accept the offer until July 6.

Precinct Investment last night said the €1.30 per share offer for the hotel group had received acceptances from shareholders holding 37% of the company's shares.

Precinct is seeking 54% support to take control of Gresham and will up the offer to €1.35 per share if 80% of shareholders accept the bid.