Dalata Hotel Group – which owns the Clayton and Maldron chains – has rejected a proposed €1.3bn takeover on the grounds of its board deeming it to undervalue the business and its prospects.
Dalata – which operates hotels in Ireland, the UK, Germany, the Netherlands and Spain – has been conducting a strategic review of its business since March, with all options being considered, including a total sale of the business.
Earlier this week, a Scandinavian consortium – comprising Swedish hotel owner Pandox and Norwegian property company Eiendomsspar – proposed a potential €1.3bn takeover offer for Dalata.
However, even though no firm bid has been made, Dalata said in a statement that it its board has unanimously rejected the possible offer, which it said “materially undervalues the group and its prospects”.
In a statement, Dalata said: “The Board confirms it continues to engage in constructive discussions with a number of parties who are participating in the FSP and who have submitted initial non-binding proposals to acquire the entire issued and to be issued share capital of the Group. Pandox is not a participant in the FSP, having declined to enter the process on the terms of the process set out in the Group’s announcement dated 6 March 2025.”
