New twist in Rangers saga as Singapore group withdraw bid
New twist in Rangers saga as Singapore group withd
The takeover saga at Ibrox Park has known yet another turnover as Singapore businessman Bill Ng has withdrawn his bid to buy crisis-hit Rangers.
Ng's consortium was the reported front-runner after the Blues Knights group, leaded by a former Rangers director, had stepped out of the race earlier this week. However, the Singapore-based contender has also pulled off the battle to take over the Scottish giants after admitting to “serious concerns” regarding the shares on offer.
Bill Ng stated the process had “become untenable”, announcing the withdrawal with “deep regret”.
The news could mean a clear pathway for American businessman Bill Miller to negotiate a deal with Rangers administrators Duff and Phelps, who declined a revised offer from Brian Kennedy on Thursday.
