By support

31st Mar, 2018 | 10:20am

'Charlatan', 'King should be worried' - Celtic fans react as Rangers offer is made

Rangers’ biggest shareholder Dave King has confirmed a mandatory offer for the outstanding shares in the club – and Celtic fans think things are about to take a turn for the worse for the Gers

The Takeover Panel decided that a formal takeover should have been made after the Three Bears group led by King secured more than 30 per cent of the voting rights in Rangers over the last few years.

The offer document released on Friday night  by Kings confirms that the bid would be funded “using the receipt of dividends to be declared next month amounting to £13,074,842.90.

Celtic fans insist the Gers are still in dire straights – despite predicting administration every week since 2012 – with one saying “Dave King should be worried.”

Here are some of their comments on Twitter:

King seized power at Ibrox in early 2015 after forcing Dave King’s hand-picked board from Ibrox after a stormy EGM.

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The South African-based businessman had previously argued he shouldn’t be liable for an offer for the outstanding shares but was ordered by the Court of Session to make the 20p per share offer.

King had until Friday to make an offer or be in breach of the court’s decision and could have seen the club cold-shouldered as a result.

Although King has to submit the full amount he could possibly to forced to shell out, with the Gers’ shares typically trading at 27p it is unlikely many will accept the mandatory offer at 20p.

In other Rangers news, this centre-forward has taken to Twitter after wrapping up a contract agreement with the Light Blues.

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