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Bridgepoint makes $1 Billion offer to take over Cherry

Published

7 years ago

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Bridgepoint offers $1 billion to Sweden's Cherry as Takeover Offer
Image Source: gawker.com
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Bridgepoint has made a takeover offer of 9.19 billion Swedish crowns ($1 billion) for Swedish gaming company Cherry AB.

An independent committee set up to examine the bid recommended shareholders accept the offer of 87 crowns per share. Cherry Chairman Morten Klein is part of the bidding consortium, hence the role of the committee.

The company mainly deals with Online Gaming, Game Development, Online Marketing, Gaming Technology, and Restaurant Casino.

“We also believe that many of the opportunities and challenges facing Cherry and its subsidiaries are easier to approach in a private setting and with a more favorable capital structure,” said Bridgepoint partner Mika Herold.

The bid committee also pointed to increased discussion in media about potential consolidation of online gambling companies. Bridgepoint’s offer comes nearly two months after William Hill’s offer for Sweden’s Mr Green & Co.

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