GUOCO NO FURTHER OFFER FOR RANK (Update)

18th May, 2011 :: 20:02:49

Source: Casinos Online

Gambling group says offer undervalues the company

Malaysian-based property & investment holding firm Guoco Group Ltd has said it will not come back with another offer on the Rank Group after its 150p-per-share takeover bid was rejected by the UK online & land gambling group.

Rank plc urged its shareholders to reject the offer from Guoco, its largest investor, saying it undervalued the company (see previous reports).

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