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.

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