The takeover of Stakis hotel chain by Hilton International parent company Ladbroke is expected to get the go-ahead after the majority of Stakis shareholders voted to accept the offer.
Last week Ladbroke received valid acceptances from Stakis shareholders representing 87.45% of the issued share capital of Stakis. It needs 90% before a full takeover can go ahead. The deadline for the offer has been extended to April 7.
One city analyst said:”If you have less than 90% of the issued share capital you have to keep the company separate. It can’t be fully integrated. But Hilton is very close and there is plenty of opportunity to reach 90%.”
Hilton International has not said how many jobs will be affected when Stakis is brought under the Hilton brand but a proportion of redundancies are likely to be at the Stakis head office in Scotland.
Head of corporate affairs Steve Devany said:”Under the agreement we have pledged to keep a presence in Scotland but we don’t know at what level. There are currently 200 employees at the head office.”