22/06/2004 11:15
Analysts back new offer for casino
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PBL's sweetened $600 million cash bid for Perth's Burswood Casino has won support from stockbroking analysts although the target has yet to offer an opinion, despite recent talks.
On Monday, PBL promised to add 6c to its original $1.40 a share offer, but on the conditions it reached 90 per cent acceptance and received the blessing of Burswood's board.
While sources close to the Burswood bid expressed concern about shareholders being asked to take the risk of accepting the bid with no guarantee of receiving the extra cash, further negotiations could remedy this, according to Deutsche Bank.
Full Story:smh.com.au
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