Industry News

Bridgepoint makes $1 Billion offer to take over Cherry

Published

7 years ago

December 19, 2018

Niji Narayan

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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Niji Narayan

Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.