Aquis proceeds with Reef Casino Trust takeover at $4.35 per unit

    Aquis said it has implemented its takeover offer for Reef Casino Trust for $4.35 per unit in cash, valuing the company at $216.83 million. Aquis’ two largest shareholders, Casinos Austria and Accor, which hold 70 percent of the company, have said they will support the offer. The bid is a premium of 58.9 percent to the trading price in the five trading days prior to the bid being announced in November, Aquis said in a stock exchange filing.