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Riviera Sale On Hold Due To Competing Bid

By Chuckmonster on Wednesday, 9th August 2006 3:18am
  » filed under Las Vegas  comments: 0

   

The Las Vegas Review Journal is reporting that the shareholder vote on the planned aquisition of the Riviera by Riviera Holdings has been put on hold at the 11th hour as an unsolicited bid - $20/share - from a newly formed company, International Gaming & Entertainment, has been received. The competiting bid will come as a relief to many Riviera shareholders, a majority of whom have decreed the previous bid of $17/share to be way too low.

Here comes the wrecking ball.



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