Action Hotels agrees cash offer

AIM-listed Action Hotels (LON:AHCG) saw its shares rise by 31.94% to 21.11p after the company agreed a potential all-cash offer with it’s largest shareholder. Under the terms of the agreement, shareholders would be offered 24p a share, which represents a 50% premium over yesterday’s closing price.

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While there is no guarantee that an actual offer will be made, the board said that shareholders would be kept informed of any developments.