The proposed $700 bid to acquire World Poker Tour Enterprises (WPTE) phased out, after the WPTE received no additional information regarding the bid, since it was issued last week. The sole investor known to be associated with the bid is professional poker player Doyle Brunson. The other investors allegedly involved in the bid remained anonymous and no terms, aside from price, were released regarding the bid.

After the bid was initially announced, WPTE stock prices shot up by 50%, to $26.50. Since the bid expired, however, stock prices have fallen back down to $20.23, after gradually shrinking earlier in the week, as the bid became more and more unlikely.

Source:  Poker777 Staff

Friday, 15 July 2005