Poker champion Doyle Brunson confirmed that his $700 million offer to buy WPT Enterprises has officially expired.
A spokeswoman for WPT, which owns the popular World Poker Tour television show, said she did not know whether Brunson had failed to secure financial backers or why he made the bid.
Aanalysts questioned the credibility of the offer, which representing a 100 per cent premium of the company\’s market value, sent WPT\’s stock price soaring more than 50 per cent on Friday. Since then, the shares have slipped, dropping 8 per cent today after falling 5.3 per cent on Tuesday and 12.5 per cent on Monday.
WPT had tried repeatedly, but could not obtain additional information about the offer nor about the other investors involved in the offer besides Brunson.
Calculators
