Shares in Ireland’s largest hotel group, Dalata, jumped more than 4pc this morning after it emerged that a mystery investor had attempted to buy as much as 14pc of the company in recent days. JP Morgan issued a so-called ‘cleansing’ filing to the stock market last night under financial rules, saying that it had been hired by an unnamed party to act as a dealer-manager to intermediate the purchase of up to €110m of Dalata’s shares. A number of Dalata’s existing institutional shareholders were approached to sound out interest in selling some of their holdings to the mystery investor. The investor ultimately decided not to proceed with the purchase, indicating that it was unable to generate sufficient selling interest at the price it was willing to pay. Dalata, whose hotels trade under the Clayton and Maldron brands, releases full-year results early next month.

Source: Irish Independent February 12, 2021 12:45 UTC