London-listed Rank Group has reached an agreement to acquire rival UK online bingo and casino operator Stride Gaming for £115.3m.
The two companies have reached agreement on the terms of a recommended cash offer which will see Rank Bidco, a wholly-owned subsidiary of Rank, acquire the entire issued and to be issued share capital of Stride at 151 pence per share.
This equates to a premium of 29 per cent compared to Stride’s closing share price of 117.50p [...]
