Rangers chairman Dave King makes £11m offer for remaining shares

Rangers chairman Dave King has made an £11million offer to buy out the rest of the shares in the Ibrox club.

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King was ordered to make an offer for the remainder of the shares in Rangers International Football Club Ltd by the Takeover Panel after it ruled the South Africa-based businessman had acted “in concert” with fellow investors when they took control of the club in 2015.

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After a protracted court case, King finally agreed in December that he would make the offer and details of the bid were then posted on the Rangers website on Friday afternoon, just hours before the deadline.

Dave King was ordered to make the offer. Picture: SNS

Shareholders have until 1pm on February 15 to decide whether to accept the offer of 20 pence per share.