De Vere Agrees to Takeover
LONDON, UK, June 26, 2006. British hotel operator De Vere Group Plc agreed to a 723.5 million British pound ($1.32 billion) takeover on Monday.
AHG Venice has made the offer, although private equity group Permira said in a statement it may make a bid for De Vere and urged the hotelier's shareholders to take no action on the AHG offer.
"Permira is considering its position and a further announcement will be made in due course," reported the Reuters news agency.
AHG chairman Richard Balfour-Lynn said: "De Vere is complementary to our existing hotel and conference business and we believe our considerable experience in leisure and property management will help develop the De Vere business."
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
