Millennium & Copthorne Hotels New Zealand (NZE:MCK) said majority owner, CDL Hotels Holdings, raised its offer to NZ$2.80 per ordinary share from NZ$2.25 per share, according to a Tuesday filing with the New Zealand bourse.
CDL Hotels Holdings said its offer is unconditional, will not be increased for at least nine months, and will close on May 8.
The company is assessing the revised offer and advises shareholders that no action is needed at this stage.
Shares of the company rose past 2% in recent Wednesday trade.
Price (NZD): $2.80, Change: $+0.060, Percent Change: +2.19%
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