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Second attempt made to take Rank’s majority owner private

24th April 2013 8:57 am GMT

A Hong Kong-based investment firm controlled by Malaysian billionaire Quek Leng Chan has made another attempt to take Rank Group’s majority shareholder Guoco Group Limited private.

A previous bid of HK$88 per share from GuoLine Overseas Limited, a wholly-owned indirect subsidiary of investment company Hong Leong, was rejected by Guoco’s shareholders at the end of last year for being too low.

GuoLine has now returned with a revised offer of $100 per share, which values Guoco at [...]

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