Sky News: InterContinental Hotels rejects £6B offer from U.S.

|About: InterContinental Hotels G... (IHG)|By:, SA News Editor

InterContinental Hotels Group (IHG) has turned down a secret £6B offer from a U.S. rival for being too low, Sky News reports.

It's unclear who the suitor was, although analysts speculated that it could have been Starwood Hotels & Resorts (HOT).

InterContinental is bracing itself for a renewed offer from the bidder or from a rival, with U.S. hotel companies thought to be attracted by the prospect of moving their tax bases to U.K.