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media takeover talk

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    FIN REV. afternoon report

    Shares in poker machine manufacturer surrendered 16¢, or 7 per cent, to $2.12 on Wednesday. Takeover speculation and market rumours about the appointment of a new chief executive fuelled an almost 20 per cent surge in the stock on Tuesday. Most of the gains came within the last half hour of trade. Media reports on Wednesday suggest IGT, the world biggest gaming machine manufacturer, may be readying a $3 per share takeover bid with a mystery consortium of Asian investors. UniTAB's outgoing managing director Dick McIlwain and former Tabcorp chief Ross Wilson are also being touted as possible candidates to front the embattled group after former chief Des Randall was fired earlier this year.

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