Rank defends bid move rejection

Bingo and casino operator Rank has defended its rejection of a takeover bid from investment group Guoco, citing plans to double the G Casino brand to 30 sites by 2015.

By The Newsroom

Published 25th May 2011, 23:59 BST

Updated 26th May 2011, 22:27 BST

Rank, which runs Mecca and Grosvenor casinos, also expects at least 275 million in VAT refunds. Guoco has made a 150p approach for Rank, valuing the firm at 585.8m.

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