WPT SHAREHOLDERS VOTE FOR PARTYGAMING (Update)
6 November 2009
Despite a better offer, it looks as if
Mandalay has lost out
Mandalay Media's last minute attempt to snatch World
Poker Tour Enterprises from PartyGaming's acquisition
offer appears to have failed.
The special
shareholders' meeting which Mandalay sought to have
postponed (see previous InfoPowa reports) was held on
the 30 October as planned, and the Party Gaming deal has
been accepted by the shareholders despite being
substantially inferior - on paper at least.
The
Mandalay offer put $35 million in cash and stock on the
table, pricing the business at a 54 percent premium over
the WPTE’s closing price on 26 October, and enabling
investors to directly benefit. In contrast, the earler
Peerless Media (a subsidiary of Party Gaming) bid, put
up $12.3 million in cash to the company, and 5 percent
in revenue sharing going forward.
Online Casino News Courtesy of
Infopowa
More news here.
Top of page |
Home |
News |
Forum |
Webcast |
Vortran |
Accredited Casinos |
Evil Ones |
Pitch a Bitch |
Online Gambling Resources |
Poker
|
