Newbury Racecourse urged shareholders not to 'hand over the reins' to 20.7% investor GPG Acquisitions, which has launched a £33.5m hostile bid for the company, arguing that the board’s plan to realise at least £44.5m from a property development scheme was in the group’s best interests. Daily Telegraph

Newbury dismissed GPG’s claims that its offer was at a 176% premium to the company’s shareholder funds.