May 27, 2014 / 10:16 AM / in 4 years

Gaillon Invest doesn't plan to raise Club Med bid

PARIS, May 27 (Reuters) - Gaillon Invest, the investment vehicle of Chinese conglomerate Fosun and French private equity firm Ardian, said on Tuesday it had no plan to raise its 17.50 euro ($23.89) per share takeover bid for Club Mediterrannee.

“Gaillon Invest has no intention of raising its offer above the 17.50 euro price, which represents a good price given what they know about the company and the market,” a Gaillon spokeswoman said.

She made the comments after funds led by Italian businessman Andrea Bonomi said on Monday they could make a counterbid for Club Med, saying they would first need access to the French holiday group’s books before making a decision. ($1 = 0.7325 Euros) (Reporting by Cyril Altmeyer; Writing by Dominique Vidalon; Editing by James Regan)

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