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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

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