Premier Inn owner Whitbread's $1.2 billion cash call knocks shares
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LONDON (Reuters) - Shares in Premier Inn owner Whitbread Plc tumbled 16% on Thursday after it said it would seek 1.01 billion pounds in fresh cash from shareholders to help weather the COVID-19 crisis.The 278-year company said it would offer its owners one new share for every two existing shares in a fully-underwritten rights issue, aimed at bolstering its balance sheet and boosting investment while other budget-branded competitors struggle with the fallout of the pandemic.The significant..