Reef Casino Trust receives updated takeover bid from Morris Group
The company had received a proposal in late July.
Australia.- Reef Corporate Services Limited (RCSL), responsible for the Reef Casino Trust, has received an updated takeover bid from an entity associated with the Morris Group.
RCSL received an offer for AU$184.3m (US$120.07m), or AU$3.70 (US$2.41) per share. That compares to the AU$184m offer proposed in late July. The revised proposal also includes an offer to purchase Casinos Austria International (Cairns). RCSL’s independent board committee will assess the proposal.
Reef Corporate Services continues to recommend a previou offer by Iris Cairns Property.
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