World Poker Tour Enterprises Considers Alternative DealWPT Enterprises Considers New Proposal; Delays Signing with Gamnyia |
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World Poker Tour Enterprises, owner of the World Poker Tour, recently announced it had sold most of its operating assets (other than cash, investments, and certain excluded assets) to Gamynia for $9.075 million plus a percentage of future revenues from its WPT and Professional Poker Tour brands.
This Asset Purchase Agreement was filed with the Securities and Exchange Commission earlier this month, and the company was to file a preliminary proxy statement with the Commission within 21 days of signing the agreement, to make it all official.
However, this “proxy statement” has been delayed as the company have received an alternative proposal and is now following the procedure set out in the purchase agreement.
The details of this “alternative acquisition proposal” have not yet been made public, but if the company wants to go with this new deal instead of the previous one with Gamnyia, then it will have to pay a $1 million termination fee.
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