London
Club CEO Denies Bid Offer
As reported by Reuters: "London
Clubs International (LCI.L) has not received
a bid approach, Chief Executive Bill Timmins
said on Friday, after the casino owner's shares
gained 22 percent in four days on bid rumours.
"…London
Clubs' shares closed at 140 pence on Friday,
having gained 3.7 percent during the session
to value the company at around 310 million pounds
($550 million).
"Its
Malaysian shareholder, Genting (GENT.KL), built
up its stake earlier this year but stopped in
April at 29.9 percent, just short of the 30
percent at which it must launch a takeover bid
under UK takeover rules…"
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