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Why Reef Casino Trust’s $3.87 Takeover Offer by Iris Is Unanimously Recommended
8:54am on Monday 29th of September, 2025 AEST
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Gaming and Hospitality
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Why Reef Casino Trust’s $3.87 Takeover Offer by Iris Is Unanimously Recommended
8:54am on Monday 29th of September, 2025 AEST
Key Points
Iris Cairns offers $3.87 cash per unit, a 42% premium to pre-offer prices
Board and independent expert unanimously recommend acceptance absent superior proposal
Offer conditional on regulatory approvals and minimum 80% acceptance threshold
Major unitholders holding over 71% of units support the bid and intend to accept
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