San Francisco-based hedge fund Marcato Capital Management, which owns 3.8% of IHG, has encouraged the company to consider a merger following reports earlier this week of a takeover offer from an unknown U.S. bidder.
In a statement, Marcato Founder and Managing Partner Richard McGuire said a merger “represents a unique opportunity to reshape the global hospitality industry” and “would have compelling strategic and financial merit.
“We strongly encourage IHG’s board of directors to explore such a combination and engage advisors to conduct a formal process to ensure it evaluates the full range of opportunities available to maximize value,” McGuire continued.
IHG has not commented on the takeover or merger speculation.