InterContinental Hotels Group continues to climb on the stock market on the back of takeover speculation.
Citigroup analysts, however, are cautious, believing the shares to be fully valued.
A bid of £15 a share from a Dubai consortium, a private equity group or Starwood has been rumoured.
Millennium & Copthorne (M&C) is also rumoured to be in the sights of a suitor. IHG closed up 13p at £12.65 and M&C up 4p at 604p.
References: Financial Times 29/12/06 page 34 (FT Markets – London, The Daily Telegraph 29/12/06 page 35 (The Market), The Guardian 29/12/06 page 27 (Market forces), The Independent 29/12/06 page 50 (Market Report
