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This story is from October 15, 2005
Hilton may buy hotels of UK namesake
US group Hilton Hotels Corp is in talks to buy the hotels of its UK namesake, the companies announced on Friday.
Shares in Britain's Hilton Group jumped as much as 19% on Friday as investors hoped the high-than-expected price for its hotels would led to a bumper cash handout, while they would still own shares in the group's faster-growing Ladbrokes betting business.
"This is a great deal if it comes to fruition. It confirms our view that US hotel operators are looking to come to Europe to diversify income streams and it makes InterContinental vulnerable," said analysts. "This is fantastic news, it is the best thing to happen for Hilton's shareholders," said analyst.
Hilton shares in London were up 13% at 344-1/2 pence by 0900 GMT as analysts said the deal would unlock value and the renamed Ladbrokes business would be re-rated compared with its rival betting shop operator William Hill Plc.
Analysts had valued the London-based Hilton's 400-plus hotels at around ��3.2-3.4 billion, while they added that cash return could be as high as 225 pence per Hilton share if the shareholders were to get all of the ��3.6 billion-price.
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