WPT receives alternative acquisition proposal
Under the terms of the purchase agreement, WPT was required to file a preliminary proxy statement with the SEC within 21 days of entering into such an agreement. The company agreed to sell substantially all of its assets earlier this month to Gamynia for us$ 9.08 million plus a share of future revenues, after months of speculation regarding the company’s future direction.
Commenting at the time, Steve Lipscomb, President and CEO of WPT Enterprises, said the transaction would enable the World Poker Tour to realise its full potential across both its existing businesses and the lucrative online gaming market. "Gamynia and its partners possess highly complimentary resources which will help it invest in and effectively integrate with the World Poker Tour efficiently and profitably," he said.
In an SEC filing late Tuesday, WPT Enterprises said only that the company’s Board of Directors had received an alternative acquisition proposal. It is unclear at this time whether this relates to a new bidder, or to an alternative proposal from Gamynia. Shares in WPT Enterprises Inc (Co. Profile) closed yesterday unchanged in New York at us$ 1.09.
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