Hilton Receives Offers

LONDON – As reported by Reuters: "Britain's Hilton Group Plc, which is in advanced talks to sell its hotels business to U.S. group Hilton Hotels Corp., said on Thursday it has received approaches for its Ladbrokes gambling business.

"The hotels and gambling businesses are each worth between 3 billion and 4 billion pounds ($5.2 billion-$7.0 billion) and a successful sale of both units would see the Hilton brand reunited after more than 40 years and mark the end of the UK company.

"Hilton said expressions of interest in Ladbrokes emerged after Hilton Hotels said in mid-October it was in talks to buy the hotels of its British namesake…"

2005-12-27