A bidding war for the World Poker Tour?

by , Aug 18, 2009 | 2:20 pm

This form 8-K was just issued by WPT Enterprises (WPTE):

Item 8.01 Other Events.

On July 28, 2009, WPT Enterprises, Inc. (the “Company”) entered into an Asset Purchase Agreement (the “Purchase Agreement”) with Gamynia Limited (“Buyer”) to sell substantially all of the Company’s operating assets other than cash, investments and certain excluded assets to Buyer. The Purchase Agreement was disclosed in a Current Report on Form 8-K that was filed with the Securities and Exchange Commission (“SEC”) on August 3, 2009.

Under the Purchase Agreement, the Company is to file a preliminary proxy statement with the SEC within 21 days of signing the Purchase Agreement. The Company’s Board of Directors has received an alternative acquisition proposal and is following the process required by the Purchase Agreement. Until the process required by the Purchase Agreement is completed, the Company will delay the filing of a preliminary proxy statement with the SEC.

This may just be nothing, but it’s intriguing to see someone else considering purchasing most of the World Poker Tour’s assets.

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