Bloomberg the Company

Bloomberg Anywhere Login


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Follow Us

Industry Products

Rank Says Guoco Offer ‘Significantly Undervalues’ Company

Don't Miss Out —
Follow us on:

May 7 (Bloomberg) -- Rank Group Plc, the operator of Mecca Bingo clubs and Grosvenor casinos, said a 150 pence a share offer from Guoco Group Ltd. “significantly undervalues” the company.

The offer, required after Guoco boosted its shareholding in Rank to 41 percent, represents a 0.8 percent premium to yesterday’s closing price of 148.8 pence, Maidenhead, England-based Rank said in a statement late yesterday.

Rank, which has gambling businesses in the U.K., Spain and Belgium, rose 1.3 percent on Friday, valuing the company at 581 million pounds ($951 million.)

“The Guoco Group stated that it looks forward to continuing its existing relationship with Rank,” according to the U.K. company’s statement.

Guoco, a Hong Kong investment group, made the bid after subsidiary All Global Investments Ltd. bought the 12 percent stake in Rank held by Genting Bhd, Guoco said in a statement on May 6. Genting is a Malaysian holding company with interests in gaming and entertainment.

Link to Company News:{53 HK <Equity> CN <GO>} Link to Company News:{RNK LN <Equity> CN <GO>}

To contact the reporter on this story: Jason Webb in London at

To contact the editor responsible for this story: Mike Harrison at

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.