Monday November 6, 4:41 pm ET
By Beth Duff-Brown, Associated Press Writer
Four Seasons Receives $3.7 Billion Offer From Investors Including Saudi Prince, Bill Gates
TORONTO (AP) — Companies owned by Bill Gates and a Saudi prince announced Monday they had joined with the founder and CEO of Canadian hotel giant Four Seasons in a bid to take the company private for $3.7 billion in cash.
The offer, equal to $82 per share, was made by Four Seasons chairman and CEO Isadore Sharp, along with Sharp’s family holding company, as well as Kingdom Hotels International and Gates’ Cascade Investment LLC. Sharp founded the Four Seasons in 1960 with one small hotel in downtown Toronto.