Race to buy Arena in the offing
Wolverhampton and Worcester racecourses operator Arena Leisure is considering an offer for the business, it has told the Stock Exchange.
Property barons David and Simon Reuben are reported to be in the frame for the business given they own ten tracks including Uttoxeter and Chepstow. The pair own almost a 30 per cent stake in the business.
But they will need businessman Trevor Hemmings known for owning Grand National winners Hedgehunter and Ballabriggs, to give up some of his 41.5 per cent of the company.
Arena staged 352 fixtures at its racecourses at Doncaster, Windsor, Lingfield Park, Southwell, Wolverhampton, Folkestone and Worcester in 2010.
In a statement, an Arena spokesman said: "The board of Arena Leisure notes the press speculation concerning the company and the movement in its share price.
"The company confirms that it is reviewing possible options to increase value for its shareholders, which may include a possible offer for the company.
"This review has only just commenced and there is no certainty that the review will result in any change to the company or an offer being made for the company."
