No Takeover of Mecca Bingo

Quek Leng Chan's offer refused

According to the latest reports from a major land and online bingo provider Mecca Bingo, the proposed takeover by Malaysian investor Quek Leng Chan has been rejected.

Leng Chan's Guoco Group Ltd has recently increased its share holding in Mecca Bingo's parent company Rank to 40 percent . What's good about this is that it proves that the company has a potential which may attract more investments, but on the other side, when a shareholder reaches a stake this high, an offer must be made to purchase all the shares.

In this situation, Leng Chan offered 150p per share, which would put a price tag of GBP586 million on Rank, a price considered undervaluing. As a result, the offer was rejected, but at the same time in just a few days, the share price was boosted to 151.6p.

Bingo Society News General Bingo News Land Based Bingo News

Login to post a comment:


Click Here to register a new account

What's going on right now!

2mins ago someone from us flag United States read article What You're Really Looking For In A Online Bingo Site May Surprise You

Bingo Community

Share this page on:
Follow LBB on:
Follow LBB

Join now for full access to our online casino forum/chat plus receive our newsletter with news & exclusive bonuses every month.

In the last 24h


  • New Members
  • Members Online
  • Guests

eighteen plus only

Follow LBB on Facebook Follow LBB on Twitter Follow LBB on Pinterest Follow LBB on Google plus


Subscribe to our newsletter and get access to tournament codes, the biggest and best exclusive offers, new brand alerts, rogue reports and more!

Enter your email adress:

T&C's Apply. 18+

You have been successfully subscribed to receive LBB newsletter!