GEMed Bids for Boss Media

11th February

Shares in Swedish online gambling provider Boss Media have risen in value by 25 percent following news that GTech subsidiary GEMed has made a bid for the company.

GEMed, a subsidiary of lottery giant GTECH and Swedish investment group Medstroms, has offered 19 Swedish crowns, or 2 euros in cash per share, valuing the company at SEK1.08bn.

Medstroms is one of the original founders of Boss Media and is the largest shareholder with a 12.5 per cent stake.

The acceptance period for the offer runs from Feb. 7 to Feb. 27. Cash settlement is expected to begin on March 6.