Arena confirms Reubens brothers takeover interest

ARENA Leisure, the owner and operator of Doncaster Racecourse, has confirmed it is in talks with one of its biggest shareholders about a possible takeover.

The plc, which also operates Wolverhampton and Worcester racecourses in a stable of seven sites, said it had received a proposal from the Reuben brothers in relation to a possible offer for the company.

Simon and David Reuben made their fortune through their Trans-World Metals production and distribution company and currently own just under 30% of Arena while entrepreneur and racehorse owner Trevor Hemmings controls just over 40%.

Arena said the announcement was not “a firm intention to make an offer” and there was no certainty that an offer would be made.

It said the Reuben Brothers must make a firm announcement on its intentions by 5pm on October 18.

This deadline would only be extended with the consent of the Takeover Panel but Arena said it intended to approach it with a request to extend.