THE Gresham Hotels takeover saga finally reached its endgame yesterday as the company's major shareholder moved to accept an improved offer that valued the group at €117 million.

THREE Irish businessmen yesterday launched a €113m takeover bid for the Gresham Hotel group. The long-threatened takeover bid for the Gresham Hotel Group finally came yesterday afternoon.

GRESHAM HOTELS will announce the result of a poll held to decide the fate of four of its directors.

ANNUAL General Meetings in Ireland are rarely fractious affairs. Save for Eircom, and lately Smurfit, very few are dominated by serious questions from the floor and very few motions are defeated.

Gresham Hotel Group PLC said it has today received a requisition from shareholders holding not less than 10% of the company's shares calling for an extraordinary general meeting to remove four directors from the board.