The consortium owns 26,578,635 shares in Jurys Doyle, just under 42% of the issued share capital. Spokespeople for the group say it has received irrevocable undertakings to accept the offer in respect of about 45%.
"The independent board believes that the price to be offered by JDH Acquisitions represents an attractive opportunity for Jurys Doyle shareholders to realize their investment," says Richard Hooper, chairman of Jurys Doyle. "In addition, Jurys Doyle shareholders who were on the share register on Sept. 16, 2005, will remain entitled to receive the interim dividend of 8.82 cent per share." JDH Acquisitions includes five board members and the daughters of the company's late founder, PV Doyle.
Jurys Doyle, which operates 36 hotels in Ireland, Britain and the US, has been the subject of intense takeover speculation since May.
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