The Irish Stock Exchange is to conduct a second inquiry into trading in shares in Jurys Doyle Hotels after stock in the company surged this week before it announced it had received an improved takeover approach.
Last month shares in the group jumped by 15% in the days before it revealed a consortium of property developers had approached it with a preliminary deal for the company.
It is understood officials were already examining dealings in the shares prior to the first takeover approach.
In the first offer in early May a consortium called Precinct offered €15.25 per share for the company.
That deal was turned down by the board of Jurys Doyle.
This week a second approach of €16.25 euro was made by Precinct, which valued the company at over a €1 billion.
When contacted by RTÉ this afternoon a spokesman for the company said: 'As soon as the company became aware of the details of the approach the board was convened and a statement was issued promptly in line with all regulatory requirements.'
He added the company was fully aware of all its responsibilities.
