Several news outlets are reporting today on a rumour that Accor is looking at a merger with IHG, a move that would create the biggest hotel company in the world.
Speculation about a merger began with an article in Le Figaro, France’s national newspaper, posted yesterday. It reported that “according to [its] information,” Accor CEO Sébastien Bazin created a team in early June to study the possibility of merging with IHG. The team is reported to have included Accor’s financial director, Jean-Jacques Morin, and the investment banks Centerview and Rothschild. The article also said the Accor Board of Directors was in favour of the merger, but Bazin was more cautious. An Accor spokesperson said the company did not comment on market matters.
However, in the wake of the article, Accor and IHG’s shares rallied—increasing 1.9 percent and 0.35 percent respectively—and the story was picked up by several major news outlets.
Here are links to some of today’s coverage.
- Shares in hoteliers Accor, IHG rise after reported merger interest | Reuters
- Accor considers possible merger bid for IHG | Business Traveller
- Accor Shows Interest in Merger With IHG to Create Global Hotels Behemoth | Skift.com
- Hotels group Accor’s shares rise on report of IHG merger interest | channelnewsasia.com
- Accor, IHG consider cost-driven merger | hotelmanagement.net
- Accor Eyed Possible Deal with InterContinental, Le Figaro says | bloomberg.com
- Holiday Inn May Offer Refuge From the Pandemic: A tie-up between hotel giants Accor and IHG isn’t the worst idea in the Covid-affected world. But it’s hard to assess fair values right now. | Bloomberg Opinion
- StockBeat: Accor, IHG Pepped by Merger Talk | Investing.com
- Accor checks out possible bid for rival InterContinental Hotels Group | thetimes.co.uk
- Are Accor and IHG Hotels in Huge Merger Talks? | godsavethepoints.com