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Oct 9 (Reuters) - Australian hotelier Mantra Group MTR.AX said on Monday it had received an indicative acquisition proposal from French hotel group Accor SA ACCP.PA at A$3.96 per share for a buyout price of A$1.18 billion ($916.98 million).
The offer price is A$4.02 per share less the Mantra's final dividend for fiscal 2017, including a potential special dividend.
Mantra shares were up 16.7 percent at A$3.76 at 11.20 local time, 0020 gmt.
Accor has been granted due diligence access to determine if a deal can be agreed upon and unanimously recommended by the Mantra board, Mantra said in a statement to the Australian Securities Exchange.
Mantra has retained Highbury Partnership as financial adviser and Baker McKenzie as legal adviser to assist with its response to Accor's proposal.
Paris-listed Accor owns some 25 hotel brands including IBIS, Novotel, Fairmont, Grand Mercure and Raffles.
($1 = 1.2868 Australian dollars)