Rank admits it has lost takeover battle

RANK, the casinos and bingo group, yesterday admitted defeat in its battle with Malaysian investment firm Guoco and recommended shareholders accept the takeover offer.

By The Newsroom

Published 22nd Jun 2011, 23:48 BST

Updated 23rd Jun 2011, 21:57 BST

Although Rank - behind Mecca bingo halls, Grosvenor casinos and Blue Square online betting - believes the 150p-a-share bid undervalues the company, Guoco now owns more than half the company.

Mecca