Father, son group, Kerzner International, who own the atlantis Resort and Casino in Paradise Island, Bahamas, are planning to buy back their shares to take the group private.
The $3.6 billion deal would value Kerzner at $76 per share – an 8% premium on last friday's closing price. News of the deal caused an 11% share price rise to $79
Kerzner said that while it "will actively solicit superior proposals during the next 45 days," it expects the transaction to close in the middle of 2006.
Article: Kerzner Casino Chain to Go Private