Centrebet Shares on a High following takeover talks

Centrebet Shares on a High following takeover talks

Shares in Centrebet registered a sharp rise today following the online bookmaker announcement about its takeover talks, triggering speculation two UK bookmakers and local outfit Sportingbet were potential bidders.

Centrebet shares rose as much as 16 per cent to $1.89.

By mid-afternoon Centrebet reported an up by 16 cents, or 9.8 per cent, at $1.79, easily exceeding a slightly firmer market. The S&P/ASX 200 index was 0.2 per cent higher.

Also, the company revealed that it had received a number of potential take over proposals.

Centrebet added, "Given the nature of the proposals and that further proposals may well be received, it is not considered appropriate or in the best interests of Centrebet and its shareholders to provide any further details … at this stage".

The online gaming and wagering company posted in a statement to the Australian Securities Exchange (ASX) that till date no agreements decisions had been initiated and it could not extend any further details on the offers.

Centrebet posted that the talks with the interested parties could consume a couple of months' time and it was still possible there would be no change to the company's ownership structure.

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