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Reef Casino ( (AU:RCT) ) has shared an announcement.
Reef Corporate Services Limited, acting as the responsible entity for Reef Casino Trust, has received a conditional cash takeover offer from MGGM Cairns No1 Pty Ltd, associated with Morris Group, to acquire all issued units in RCT. The offer, if successful, would provide unitholders with approximately A$184.3 million. The proposal also includes acquiring Casinos Austria International (Cairns) Pty Limited and RCSL. An Independent Board Committee will assess the proposal, and unitholders are advised to take no action at this time. The directors continue to recommend Iris’ offer, pending no superior proposals and regulatory conditions. RCSL will keep the market updated on developments.
More about Reef Casino
Reef Casino Trust (RCT) is a single-purpose trust established to own and manage The Reef Hotel Casino, located in Cairns, North Queensland.
YTD Price Performance: 25.79%
Average Trading Volume: 6,108
Technical Sentiment Signal: Buy
Current Market Cap: A$177.8M
Learn more about RCT stock on TipRanks’ Stock Analysis page.