14 févr. 2019 - Rangers chairman Dave King will not have to shell out millions of pounds to other Ibrox investors after a court-ordered share offer failed.

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The Ibrox club's chairman was told by the Takeover Panel to make a mandatory offer to buy all the shares in the club that aren't held by him and three other investors, known as the Three Bears.

This ruling was made after the Takeover Panel concluded King and the Three Bears had breached takeover rules by acting as a 'concert party" when they took over the club in 2015.

King initially refused to stump up the cash, claiming it was a pointless exercise and that he didn't have the money readily available, but a court ordered him to set aside around £8million to make a 20p a share offer to other shareholders who may have been willing to sell.

The South African based businessman finally agreed in December that he would make an offer and was given January 25 as the deadline.

https://www.dailyrecord.co.uk/news/scottish-news/rangers-share-offer-fails-its-14005897