LONDON Aug 4 Activist investor Marcato Capital
Management said on Monday it had hired a financial adviser to
assist in a strategic review into "enhancing shareholder value"
at InterContinental Hotels Group.
IHG, the world's biggest hotelier, was urged by Marcato in
May to consider a tie-up with a rival that would reshape the
hospitality industry, after British media reports emerged that
the firm had rebuffed a mystery 6 billion pound ($10
billion)U.S. takeover offer.
Marcato, which said it owns a stake of around 4 percent in
IHG, said it had hired investment bank Houlihan Lokey as an
advisor to help review various alternatives for the hotel group,
including improving its capital structure and/or capital
allocation and strategic transactions.
Marcato said it intended to engage with IHG's board and with
shareholders in the company.
Shares in IHG were down marginally at 2,370 pence by 1123
($1 = 0.5944 British Pounds)
(Reporting by Neil Maidment; Editing by David Holmes)