The Doyle family consortium has made a €1.25b (£858m) bid for Jurys Doyle hotel group, offering shareholders €18.90 (£13) per share.
In turn, Jurys Doyle’s board has recommended the cash offer made by Goldman Sachs on behalf of JDH Acquisitions.
JDH Acquisitions currently holds nearly 42% of the Irish hotel group.
The offer represents a 41.5% increase over the closing price of Jurys Doyle shares (€13.36 (£9.20)) before the offer period began on 6 May 2005.
It is not yet know what major shareholder Sean Dunne, the Irish developer who is about to complete on the purchase of the Dublin Ballsbridge site for €260m (£178m), will do next.
Dunne, who has a 29% stake in the hotel group, could make between €10–15m (£7-10m) be selling his remaining shares.
By Emily Manson
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