Fortress's £350mn Loungers bid seems well advanced

Company has been running a private sale process for most of the year

Published on November 28, 2024

Enterprise value of £350mn is 5.5-times Ebitda
40.2% of shareholders have backed the bid

The revelation of a good six months of trading at hospitality group Loungers (LGRS) proved to be a sideshow to the news that the board has accepted a 310p bid from Fortress Investment Group.

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