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The battle for French resort operator Club Méditerranée intensified Monday with a private-equity fund run by Italian businessman Andrea Bonomi saying it was considering a takeover bid, challenging a Chinese-led rival offer.
Mr. Bonomi’s Investindustrial fund will make a decision on whether it will seek to take over Club Med after reviewing its books for five weeks and securing the support of Club Med’s board, it said in a written statement….
Chinese conglomerate Fosun International Ltd. in tandem with investment firm Ardian, moved a year ago to take over the rest of Club Med they don’t already down for €17.50 ($23.85) a share, an amount much higher than the market price at the time. The offer valued Club Med at €558 million ($761 million).