Reef Casino Trust's (ASX:RCT) responsible entity Reef Corporate Services (RCSL) confirmed that its board is engaged in ongoing, non-binding negotiations with both Iris Hotel Group and Morris Group regarding potential acquisitions of the trust, according to a Wednesday filing with the Australian bourse.
RCSL said these discussions are in the confidential and incomplete, and there is no certainty that they will lead to a transaction.
The entity emphasized that while the total value of the proposal exceeds AU$200 million, the portion allocated to the units in RCT under both proposals is less than AU$200 million.
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