The unsolicited $700 million bid received recently by World Poker Tour Enterprises (WPTE) from an unidentified group of investors, headed by poker legend Doyle Brunson, is set to expire, should WPTE not receive additional details regarding the acquisition bid. Since July 7, when the bid was issued, WPTE has made efforts to substantiate the offer, but to no avail.

WPTE made contact with Goodman and Chesnoff, the law firm reportedly representing the investors, in order to obtain additional information, but received none. WPTE also later received word that Goodman and Chesnoff were no longer involved in the bid.

In a further attempt to substantiate the offer, WPTE contacted Brunson himself. Brunson told WPTE that the company should not anticipate further contact regarding the matter. Indeed, the bid will phase out today, should WPTE not receive further information regarding the bid.

Source:  Poker777 Staff

Tuesday, 12 July 2005