Is PartyGaming in Takeover Talks with Everest Poker?

The London Times reported at the weekend that online poker giants PartyGaming, owner of PartyPoker.com, and Everest Poker were in talks about a potential deal which could see PartyGaming take over GigaMedia, Everest’s parent company.

However, subsequent reports have suggested this was an unlikely scenario. GamblingCompliance.com has said that, “Reports that PartyGaming is in advanced talks to buy GigaMedia’s Everest Gaming operation have been rejected by industry observers who point out that the timing of recent stock exchange announcements make the notion of an imminent deal far-fetched.”

What is certain is that PartyGaming’s recent $105 million settltement with U.S. authorities has paved the way for possible mergers and acquisitions for the company while GigaMedia is also on record as saying it was ““in discussions with several interested parties concerning the possibility of a strategic merger or a sale”.

GigaMedia is worth in the region of $363 million and OptionMonster.com said on Monday that it was attracting bullish options trades on the back of the speculation with four times the average contracts traded.

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