P122 CEEFAX 122 Sat 10 Dec 23:40/48
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TOPICS, BIDS & DEALS
■ Grand Metropolitan has come up with
offers for the preference shares of two
of its subsidiaries.
The hotels group is offering 77p in
cash for each of the 5.5pc cilvlative
preference shares in Gordon Hotels and
70p in cash for each of the 5pc
cumulative preference shares in Grand
Metropolitan Hotels (Scotland)N
* Grand Met said the move was inlended
to achieve administrative savings and
to enable shareholders to dis-Nse of
their holdings at a significant premium
to recent market levelsN
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