Rank Group Halts Talks On Gala Coral Acquisition

RANK GROUP HALTS TALKS ON GALA CORAL ACQUISITION

29th March, 2012 at 10:47:35
Source: http://www.azonlinecasinos.com

Best interests of Rank shareholders not served by present proposals

The proposed acquisition by UK online and land gambling group Rank plc of rival Gala Coral is off the table, a statement from Rank revealed Thursday.

Advising the market that the talks had been discontinued, Rank's chairman and chief executive officer Ian Burke commented, ''Rank remains committed to delivering sustainable growth in shareholder value; the proposed terms of the potential acquisition did not achieve this objective.

"We will now concentrate on delivering our organic growth plans, including the delivery of 12 more G casinos by 2015."

At the end of January this year Rank announced that it was in discussions with Gala Coral Group about a potential acquisition of Gala's casino business (see previous reports).

Related News Tags: ,



« News index »



SPORTECH FULL YEAR 2016 RESULTS

29th March, 2017 at 15:16:22
Results fail to impress but transformational period positions company for growth, Board believes.

NEW TELEVISION ADVERT FROM ONLINE CASINO

28th March, 2017 at 19:47:54
PlayOJO.com begins major marketing push in UK.

HABANERO HAILS STRONG START TO 2017

28th March, 2017 at 11:21:29
Future looks bright, developer says.

PARIPLAY LAUNCH BLOODSHOT (Update)

27th March, 2017 at 20:04:48
Based on iconic comic book series.

ULTRAPLAY DOUBLE DEAL

27th March, 2017 at 13:46:09
With Mbitcasino and Arcanebet
Full Story: Ultraplay Double Deal »