Property entrepreneurs Simon and David Reuben have romped home as winners in the race to acquire Northern Racing, which owns both Uttoxeter and Chepstow racecourses.
NR Acquisitions, which is a bid vehicle for the Reuben brothers, has secured the recommendation of Northern Racing's board for a 200p-a-share cash offer.
This includes the 1.6p final dividend that has already been declared.
The deal values the company at £65.9m, plus debt.
The Clarke family and the property company St Modwen, which between them own 86.2pc of the shares, have accepted an offer of 185p a share for their stakes.
The Reuben Brothers deal has come in at a far lower price than some people in the market were expecting. Earlier this week the shares hit 242½p.
The Reuben brothers, who own parts of Oxford Street in London, have promised to keep the racecourses as going concerns.