Jury’s group considering €1.1bn takeover bid

Jury's Doyle is reportedly considering a new €1.1bn takeover offer from a consortium of businessmen trying to buy the hotel group.

Reports this morning said the new offer of €17.50 per share was the third put forward by the Precinct consortium since May.

The reports said Precinct was only offering €17.50 per share on condition that the takeover achieves 80% approval among Jury's shareholders.

The firm is apparently prepared to pay €16.75 per share with a 65% approval as part of a tactic to get around the opposition of the Doyle and Beatty families, who own 30% of Jury's Doyle.

It also used a similar tactic to force the hand of blocking shareholder Red Sea Hotels during a takeover of the Gresham Hotel Group last year.