Guo Guangchang, the chinese billionaire pursuing Club Med, has raised his offer with a last minute bid of €939m (£735m).
The offer, through the Bosun conglomerate, was made shortly before the 5pm deadline and trumps the €916m offer made by Italian investor Andrea Bonomi, who has been jostling for the holiday operator since May.
The latest bid was pitched as €24.60 per share.
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