Business Services Industry
Italian Investor Waits for Answer on Offer for Las Vegas Resort.
Knight Ridder/Tribune Business News, April, 2003
By Jeff Simpson, Las Vegas Review-Journal Knight Ridder/Tribune Business News
Apr. 22--An Italian investor Monday said he has yet to get a response for his unsolicited offer to buy Riviera Holdings Corp. for $30 million.
A company executive, however, said the owner of the Strip resort Riviera declined investor Fabrizio Boccardi's offer to buy the company for $8.50 per share in cash and the assumption of $220 million in debt.
"I assume someone will ask the question," Riviera Chief Financial Officer Duane Krohn said about expectations that analysts would ask about the Italian investor's offer during a conference call today to discuss the company's earnings for the quarter ended March 31. "The offer's been reported so much. We'll say...
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