Blue Square Poker Owner Rejects Bid OfferRank Group, Home To Grosvnor Casinos and Blue Square Poker, Says No To Asian Buy Out |
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Rank Group Plc, the UK-based gaming oerator which owns Blue Square Poker and the Grosvenor UK Poker Tour, has rejected a bid from Asian investment company Guoco.
Guoco made a mandatory offer for the company after it had increased its shareholding to 40.8 percent on Friday. The offer was 150 pence per share.
However Rank said that this was only 0.8 percent above Friday’s closing price and that it undervalued the company significantly. It advised sharholders to ignore the bid and do nothing.
The news comes just days after Entraction, the online gaming and poker network, was courted by U.S. gaming giant IGT. The Swedish-based operator has recommended shareholders accept the €77 million offer.
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