logo
Share SHARE
FONT-SIZE Plus   Neg

Rank Group Announces Termination Of Discussions With Gala

The Rank Group Plc (RNK.L) said on January 30, 2012 it was in discussions with Gala Coral Group about a potential acquisition of Gala's casino business. Today the company announced that the discussions have ended after it became clear that proposed terms of the acquisition would not serve the interests of Rank's shareholders.

Rank's chairman and chief executive officer Ian Burke stated, ''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."

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Bank of Nova Scotia or otherwise known as Scotiabank, Friday reported lower net profit for the third quarter, in the absence of a year-ago gain. Earnings per share, however, came in line with the Street view. Further, the company said it raised its quarterly dividend by 2 cents. Non-traditional discount and variety stores operator Big Lots Inc. (BIG) Friday reported a decline in net profit for the second quarter, while net sales grew 1.2 percent from the prior year. Comparable sales for the quarter increased 2.8 percent. Google has rejected the European Union's charges that it abused its market power and the demanded that it change the way it ranks online comparison shopping services in its search results, setting up a potentially long legal battle with the EU regulator empowered to levy billions of euros in fines
comments powered by Disqus
Follow RTT