Marcato Capital Management Comments on Rumors Regarding Intercontinental Hotels Group
SAN FRANCISCO - June 2, 2014 - Marcato Capital Management LP ("Marcato"), a San Francisco-based investment manager that owns securities representing approximately 3.8% of outstanding shares of Intercontinental Hotels Group plc (LSE: IHG; NYSE: IHG), today issued the following statement from Mick McGuire, Founder and Managing Partner of Marcato:
"We have seen media reports regarding a recent, unsolicited offer for Intercontinental Hotels Group that was rejected by the company. Regardless of the veracity of these reports, we believe that a combination with a larger hotel operator would have compelling strategic and financial merit and represents a unique opportunity to reshape the global hospitality industry. We strongly encourage Intercontinental Hotels Group's Board of Directors to explore such a combination and engage advisors to conduct a formal process to ensure it evaluates the full range of opportunities available to maximize valu
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