Rank ends talks with Gala Coral

Bingo, casino and online gaming company Rank Group has ended discussions with Gala Coral Group about a potential acquisition of Gala's casino business.

Rank said the talks have ended after it "became clear that the proposed terms of the acquisition would not serve the best interests of Rank's shareholders".

The two parties have been in talks since January of this year.

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In a statement Rank's Chairman and Chief Executive Officer Ian Burke commented: "Rank remains committed to delivering sustainable growth in shareholder value; the proposed terms of the potential acquisition did not achieve this objective. We will now concentrate on delivering our organic growth plans, including the delivery of 12 more G casinos by 2015."

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