No Sportech acquisition for Contagious Gaming
Sportech says the termination of discussions came after its board did not receive "an offer proposal from Contagious Gaming which is capable of being implemented or recommended".
Operator and supplier Sportech first announced back in August that it had received a proposal from supplier Contagious regarding a "possible recommended offer" for the company, which would be "at a premium to Sportech’s current share price of 62.63p as at 13 August 2015 and would comprise a majority in cash and the balance in new Contagious Gaming shares".
The deadline for Contagious to announce a firm intention to make an offer for Sportech was extended from 11 September to 9 October, and then later to 6 November, before the recent termination announcement.
Sportech has meanwhile revealed that it has recently received more than one preliminary proposal in respect of its The Football Pools product and will be reviewing the terms of these proposals in due course.
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