BwinParty shares fall following reports of acquisition talks ending
Online operator BwinParty saw its share price drop by almost 20% on Friday, as traders picked up on news that corporate suitors had apparently ended talks over a company takeover.
The firm confirmed in November that it had been in “preliminary discussions” with a number of interested parties over “potential business combinations” that would lead to the creation of additional value for shareholders.
Amaya Gaming, owner of online poker brand PokerStars, was linked with an acquisition, while provider Playtech was also reported as a potential buyer, although no names were confirmed.
The reports resulted in BwinParty’s share price increasing 18.7%.
But that price had fallen by 18.95p to 83.55p by the end of trading on Friday, though it has not been publically confirmed by BwinParty that any acquisition talks have ended.
BwinParty chief executive Norbert Teufelberger stated in August that the operator would look to generate €40m by selling off various assets, though a source following the situation closely told the Financial Times: “The priority is selling the entire business to one buyer.”
Estimates value the business at an approximate 140p-a-share but there have been no reports of developments on any initial talks.
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