Three months after making its stock market debut at 500m, the online poker company has received a bid approach valuing it at about 790m.
“The approach is subject to a number of pre-conditions, including completion of satisfactory due diligence, and is at a price of 270 pence per share, with the consideration being satisfied by a mixture of cash and shares,” the firm said in a statement to the market.
The board of the company also confirmed it had commenced discussions with the unnamed party, but said talks were at a very early stage.
In separate news, the company appointed Andrew Burns to take up the role of Chief Financial Officer. Burns, currently a non executive director, will replace Yossi Pereg, CFO since 1999 who is stepping down for personal reasons.
Calculators
