20th Aug 2012 15:30
20 August 2012
The Rank Group Plc ("Rank" or the "Company")
Proposed acquisition of Gala Casinos Limited ("Gala Casinos")
Rank's Response to Office of Fair Trading Announcement
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 £205 million (the "Acquisition"). The acquisition was conditional upon the approval of Rank shareholders (which approval was obtained at a general meeting of Rank held on 26 July 2012) and upon receipt of UK merger control clearance.
The Office of Fair Trading has today announced that it has referred the Acquisition to the Competition Commission.
Rank is considering the implications of this decision and a further announcement will be made in due course.
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