Steve Bollenbach: Hostel Takeover?By
Stephen Bollenbach's chances, as they say in Las Vegas, just passed even money. On Sept. 30, a federal judge ruled that ITT's plan to evade Hilton Hotels CEO Bollenbach's takeover bid--splitting ITT in three--must be put to a shareholder vote. That has investors betting that Hilton can pull off its $11.5 billion hostile takeover. ITT shares hit $67.75 on Sept. 30, up 8.4% and approaching Hilton's $70-a-share bid.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.