Jardine Matheson to Buy Remaining Stake in Mandarin Oriental (1)

Jardine Matheson Holdings Ltd. has agreed to buy the remaining 11.96% of hotel arm Mandarin Oriental International Ltd. it doesn’t already own, as the century-old conglomerate ramps up efforts to increase investor returns.

Mandarin Oriental shareholders will receive $3.35 in cash per share in a deal that values the hotel chain at about $4.2 billion, Jardine said in a statement on Friday. The total value represents a premium of 40% to Mandarin Oriental’s closing price on Thursday, according to Bloomberg calculations

The move to take full ownership of the hotel firm comes as Jardine seeks higher returns from its sprawling ...