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Sportsbetting : Centrebet to reconsider cash bid for IAS
The attempted hostile takeover bid launched by Australian online sports betting group Centrebet International Limited against fellow Aussie firm International All Sports seems to have hit an obstacle that may require it to reassess its cash bid following a Takeover Panel ruling this week.
The independent Panel became involved when Centrebet requested that it make a declaration of
'unacceptable circumstances' over impediments to its bid, which is reportedly worth Aus$11.8 million and would create an online sports and race wagering company with nearly 125 000 direct customers.
The Panel was asked to release Centrebet from standstill and confidentiality undertakings that were put into place after it was provided with confidential information about IAS for the purpose of acquiring the business in April 2008. It declined to go ahead with a bid at that time and the IAS board subsequently took the company off the selling block.
Centrebet claimed that the undertakings were "beyond what is necessary" to protect IAS, and instead frustrated the ability of Centrebet to effect a genuine takeover.
In the event, the Panel ruled against the Centrebet submission, arguing that standstill agreements are useful in enabling price-sensitive information to be given to other potential buyers.
The Panel stated that the standstill period could be negotiated to November 2009, which would be twelve months after the date CentreBet withdrew from the asset sale process.
Graham Kelly, Centrebet's chairman, said the company was very disappointed by the ruling. "'We were simply seeking to ensure that IAS's shareholders were given the opportunity to consider for themselves what we think is a compelling offer and, if necessary, negotiate with the independent directors of IAS a final offer price and other terms that would secure their support," he said.
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To win, you need to get a pair of Tens or better. Jerry K., however, got a much higher hand than the minimum; he pocketed $397,879 after landing the game’s best possible hand: a royal flush.
NBA : Warriors Win the West; NBA Finals Next -
The Golden State Warriors will play in their third-straight NBA Finals. They completed their sweep of the San Antonio Spurs Monday night, rolling to a 129-115 victory as 12-point road favourites; Golden State opened the season as a –250 chalk to win the Western Conference.
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NHL Odds: Lone Canadian Team Plays on Friday -
“Stingy” is a word that many have used to describe the Ottawa Senators in Round Three. The Sens know that they’re overmatched against a Pens lineup that features the likes of Sidney Crosby, Evengi Malkin and Phil Kessel, but with determined defensive play, Ottawa managed to frustrate the Penguins on their home ice, stealing one of two games.
NBA Odds: Will Cavaliers Be Rusty in Game 1? -
The Boston Celtics needed seven games to get past the Washington Wizards, but they got the job done Monday night, winning 115-105 as 5.5-point home favourites. Next up: the defending champion Cleveland Cavaliers, who visit the Garden Wednesday night at 8:30 PM ET on TNT.
4 New Microgaming Releases in May 2017 -
Candy Dreams is a 720 ways to win, variable reel game. Players spin on a colorful reel area filled with candy treats, as they play towards enticing bonus triggers.
PKR Company Statement Update -
Microgaming can confirm that David R Taylor and Matthew R M Wild of RSM Restructuring Advisory LLP were appointed Joint Administrators of PKR Ltd and PKR Technologies Limited on 11 May 2017 by the High Court, Chancery Division.
Microgaming Wins The Spark Award 2017 -
The Spark Award celebrates organisations that experiment with ways of working differently. Previous winners include GCHQ and Places for People. It’s a part of Spark the Change, a global movement dedicated to empowering people and building happier workplaces.
NHL Predators First Ever Conference Finals Appearance -
With three of the team’s top four point scorers residing on the blueline, the Nashville Predators have found a strategy that frustrates even the best in the West. After qualifying as the lowest-seeded Western Conference team, the Predators made quick work of the Chicago Blackhawks (4-0) and St. Louis Blues (4-1) in the first two rounds.
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