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Date: 2008-02-06
Author: Scott Sims
Boss Media, software developer for the International Poker Network (Paradise Poker, Yahoo! Poker), has received an offer from GEMed AB to purchase 100 percent of the company’s outstanding shares. GEMed AB is owned by two separate companies, GTECH, which owns 87.5 percent, and Medstroms, which owns 12.5 percent.
GEMed offered SEK 19.00, a 25.8 percent premium over Boss Media’s January 31 close. The announcement was made after-hours, and Boss Media shares opened right at SEK 19.00 when trading opened on February 1. Shares closed up that day to SEK 19.40.
Boss Media has until February 27 to accept the offer, which is slated to close March 6.
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