Party and Empire

[Dave H.]

I found this at the partygaming.com site. Can anyone explain what this is about?

Thanx

[ QUOTE ]
21 November 2005
PartyGaming Plc (“PartyGaming”)
Empire Online Limited ("Empire")
PartyGaming confirms that discussions with Empire have been terminated. The Board of
PartyGaming also confirms that last week, having undertaken an extensive review of the
business, it made a further informal and conditional proposal to the Board of Empire. The
proposal was subject to, inter alia, the completion of its detailed due diligence and Board
approval. The proposal, which reflected PartyGaming’s view of Empire’s prospects together
with potential synergy benefits, was to acquire the assets and business of Empire for a value
which was equivalent to approximately 60p per Empire share.
In its announcement today, Empire has also said that it intends to take legal action against
PartyGaming following the move of PartyPoker.com to a new platform on 8th October 2005.
To the extent that any action is forthcoming, PartyGaming is highly confident of a successful
outcome.

[/ QUOTE ]

Party Gaming and Empire Online were negotiating a merger. The meetings went poorly that was the end of that.

[imaptone]

I think this is legalese for Party is splitting from Empire. Empire is pissed and they are suing Party.

[djoyce003]

empire lost value when party split the tables....depending on the terms of their agreement they may or may not have had the clear legal ability to do this...empire is clearly suiing because that move royally screwed them to the wall. Probably will be settled, but party might fight it hard so they don't get sued by all the other skins as well.

[Vavavoom]

[ QUOTE ]
Empire is pissed and they are suing Party.

[/ QUOTE ]

For $500Million ... It was in the Evening Standard Business section yesterday evening...

[Zetack]

[ QUOTE ]
[ QUOTE ]
Empire is pissed and they are suing Party.

[/ QUOTE ]

For $500Million ... It was in the Evening Standard Business section yesterday evening...

[/ QUOTE ]

Well, over a billion dollars according to what I read. 575 million pounds.

It sounds like its going to be a fun lawsuit:

[ QUOTE ]
A spokesman for PartyGaming dismissed the lawsuit, adding: “We congratulate Empire on kick-starting the pantomime season.” He also released a letter written in May in which PartyGaming had warned Empire about its plan.

But a source close to Empire said: “That’s a bit of an own goal. It doesn’t make it any less illegal if you write to me telling me you’re planning to burgle my house.”



[/ QUOTE ]

Article

[solucky]

will be funny in the courthouse if party tell them that empire only steal players from partys playerbase. But in fact i like empire and they are better than the original party......only the players dry out

[danzasmack]

[ QUOTE ]
will be funny in the courthouse if party tell them that empire only steal players from partys playerbase. But in fact i like empire and they are better than the original party......only the players dry out

[/ QUOTE ]

There are still "beginner" players on empire. They still get between 5000-8000 players at most times, which is bigger than a lot of the small sites. I still only play on empire and can consistently get a game.

Go empire! Win a bagillion dollars!

EDIT: I say this because this means new players are still signing up on empire.

[David04]

For a second I thought you were me.