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Arena shoots higher on confirmation of a possible buy-out offer
23-06-2011 16:11
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Racecourse operator Arena Leisure has today responded to, "recent press speculation concerning the company and the movement in its share price."
Management has confirmed that it is reviewing, "possible options to increase value for its shareholders, which may include a possible offer for the Company," but added that, "this review has only just commenced and there is no certainty that the review will result in any change to the Company or an offer being made for the Company."
Of significance, the company´s share price established a new 52 week high at the close despite the fact that today saw sharp falls in the broader marketplace.
Shares of Arena Leisure closed the session at 37p, after moving up by 14.7% in London trading.
AB
Management has confirmed that it is reviewing, "possible options to increase value for its shareholders, which may include a possible offer for the Company," but added that, "this review has only just commenced and there is no certainty that the review will result in any change to the Company or an offer being made for the Company."
Of significance, the company´s share price established a new 52 week high at the close despite the fact that today saw sharp falls in the broader marketplace.
Shares of Arena Leisure closed the session at 37p, after moving up by 14.7% in London trading.
AB
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| Arena Leisure (ARE) share price |
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