Gresham in line for €100m-plus takeover bid

THE Gresham Hotel is in play for a possible €100m-plus takeover bid, the Irish Takeover Panel ruled yesterday when they deemed the company to be “in an offer period” for the purposes of disclosures by any of the parties involved.

If the group of Irish business people, whose initial approaches to take the company over have been rebuffed, have built up a stake of 1% or more in the company the Takeover Panel expects the suitors to make this known as a matter of urgency.

The shares closed up 7.5% yesterday after being up 10% in early trading.