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Reef Casino ( (AU:RCT) ) has shared an announcement.
Reef Corporate Services Limited, responsible for the Reef Casino Trust, has received an unsolicited proposal from Morris Group to acquire all issued units in RCT through an off-market cash takeover. The proposal, valued at approximately A$184 million, is similar to an existing offer from Iris Cairns Property Pty Ltd. The proposal also includes the acquisition of Casinos Austria International (Cairns) Pty Limited and RCSL by Morris Group. The Independent Board Committee is evaluating the proposal, and unitholders are advised to take no action at this time. The directors continue to recommend the Iris Offer unless a superior proposal arises.
More about Reef Casino
Reef Casino Trust (RCT) is a single purpose trust formed to own and manage The Reef Hotel Casino located in Cairns, North Queensland.
YTD Price Performance: 20.51%
Average Trading Volume: 4,547
Technical Sentiment Signal: Strong Buy
Current Market Cap: A$170.3M
Find detailed analytics on RCT stock on TipRanks’ Stock Analysis page.