Johnnic Boosts Stake in Tsogo Sun Casinos As reported by Reuters: "South African casino and hotel company Johnnic Holdings will pay $100 million to boost its stake in the lucrative Tsogo Sun casinos and bolster its defences against a hostile takeover bid by rival HCI. "Johnnic said on Tuesday it had agreed to buy Nafcoc Investment Holdings's (Nafhold) 25 percent stake in Tsogo Investment Holding Company (TIH), which controls Tsogo Sun, for 675 million rand. "Shares in Johnnic leapt 7.1 percent to 12 rand by the market close, increasing the stock's premium over a 10.70 rand per share cash bid by HCI, or an offer of one of its own share for 2.57 Johnnic shares -- both of which have been rejected by Johnnic…" | 
