PARIS Sodexho Alliance, a French catering group, will launch a cash bid to acquire the 52% of hotel services company, Sodexho Marriott Services (SMS), it doesnt already own. The bid offer of $900 million, or $27 per share, carries a premium of 9% over the January 24 closing price of SMS shares.
Sodexho Alliance plans to fund the proposed transaction with a mix of equity and debt financing and is being advised by Goldman Sachs. (1/25/01)
SOURCE:Wall Street Journal