Mandarin Oriental to go private in $4.2B deal

Core Insights - Jardine Matheson will acquire the remaining 11.96% stake in Mandarin Oriental through its subsidiary Bidco [1] - The acquisition coincides with the $925 million sale of the top 13 floors of Mandarin Oriental's One Causeway Bay property to Alibaba Group and Ant Group, which will serve as Alibaba's Hong Kong headquarters [2] - The go-private offer for Mandarin Oriental is priced at $3.35 per share, consisting of $2.75 in cash and a special dividend of $0.60 per share from the Alibaba sale [3] Financial Details - Jardine Matheson plans to finance the acquisition using cash on its balance sheet and committed facilities [3] - Completion of the Alibaba sale is expected by December 31, with Jardine Matheson aiming to finalize its acquisition of Mandarin Oriental stakes by February 28, 2026 [3] Company Operations - Mandarin Oriental operates 43 hotels, 12 residences, and 26 homes across 26 countries and territories [4] - The company has recently focused on its North American strategy and announced a 430-person layoff related to the redevelopment of its Miami property [4]