Seen on FT.com (Financial Times), Feb 13, 2007
Four Seasons Hotels, the Canadian luxury hotel operator, on Monday accepted a $3.4bn bid for the company from its chief executive and investment firms controlled by Bill Gates and Prince Alwaleed bin Talal.
The decision by Four Seasons’ board to endorse the bid, worth $82 per share, disappointed investors, who were expecting the buyers to raise their offer in order to secure approval from directors. Its shares fell 3 per cent to $81.36.