Club Med Bidding War Expected To End With New Offer From Chinese Conglomerate Fosun

China's Fosun International is expected to outdo an Italian private-equity firm in the ongoing bidding war for control of French holiday operator Club Méditerranée, according to Reuters. The Chinese conglomerate, led by billionaire Guo Guangchang, introduced a last-minute offer for Club Med on Friday, with the deadline for a counteroffer from Italian capitalist Andrea Bonomi quickly approaching. The French resort corporation is valued at over 874 million euros ($1.1 billion.)