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RANK UPDATES ON GALA CASINOS ACQUISITION
Wednesday September 19,2012 : RANK UPDATES ON GALA CASINOS ACQUISITION (Update)
Competition Commission delay means agreement deadline will not be met
Rank Group plc has released an update on its bid to acquire Gala Casinos Limited, reporting that delays in achieving Competition Commission approval could impact the agreement.
On 12 May 2012 Rank announced that it had conditionally agreed to acquire Gala Casinos from Gala Coral Group Limited for a total cash consideration of GBP 205 million.
The acquisition was conditional upon the approval of Rank shareholders (which was obtained at a general meeting of Rank held on 26 July 2012) and upon receipt of UK merger control clearance by 19 September 2012.
On 20 August 2012 the Office of Fair Trading announced that it had referred the acquisition agreement to the UK Competition Commission, and that as a result the agreement will not become unconditional by the 19 September 2012 deadline.
The company now advises that due to these factors the agreement relating to the acquisition will cease to be formally binding on the parties at midnight on Wednesday 19 September 2012.
The update concludes: "Rank and Gala Coral Group are nevertheless continuing to assist the Competition Commission with its inquiry and are continuing their discussions in relation to appropriate amendments to the acquisition terms in the light of the reference to the Competition Commission. A further announcement will be made in due course."
3 Top Bitcoin Poker Sites -
Bitcoin, in particular, is a cryptocurrency that you can use on various online poker sites and it allows a faster and cheaper way to get money into and out of the online poker site.
Kentucky Derby Odds: Justify still Favorite -
With all the races on the Road to the Kentucky Derby complete, Justify is still on top of the odds list at 4/1. But he’s got company: Mendelssohn (9/2), Audible (11/2) and Magnum Moon (8/1) are all very much in contention for the big race on May 5.
888Poker Takes Over the States -
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Top gambling ICOs to watch this year -
The gambling ICOs that are being launched in 2018 are of better quality. Unlike the last half of 2017 when ICOs were numerous, the first few months of 2018 have seen a big drop in number.
MPN Poker Tour Bratislava | Day 2 -
It was a hard fight around the bubble, culminating in the elimination of Georgios Drakakis in 46th place. He received a surprise consolation entry into the next MPNPT stop in Sunny Beach, Bulgaria (5-8 July), which softened the blow of missing out on a €900 min-cash.
MPN Poker Tour Bratislava Day 1B -
Dorey Captures Chip Lead After MPNPT Bratislava Day 1b Triples 1a Field Size. The second flight of the €550 MPN Poker Tour Bratislava Main Event is in the bag, and so are the chips of 97 players who will be returning along with the 26 Day 1a survivors to fight to the money and beyond today
MPN Poker Tour Bratislava Day 1A -
The MPN Poker Tour has arrived in Bratislava for the very first time, bringing with it the Tour’s friendly mix of local and globe-trotting poker enthusiasts, pros and qualifiers to the beautiful Slovakian capital.
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