China's Fosun International and its bidding partners are refusing to let Club Méditerranée slip from their grasp and have raised their offer for the French holiday group to €24.6 a share.
A consortium led by Fosun, China's 237.4*7*7*7/*privately held conglomerate, has been engaged in a fierce battle with Italian investor Andrea Bonomi to gain control of Club Med in what has turned out to be France's longest-running takeover tussle.
The $24.6 a share offer - which values Club Med at €939m - trumps the €24 a share tabled by Mr Bonomi two weeks ago in last ditch attempt to gain control of the group.
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