AGS Shares Surge After Rejected Takeover Bid, Merger Talks Ongoing
AGS, a leading gaming company, has seen its market capitalisation soar following a rejected takeover bid from Inspired Entertainment. The $370 million offer was turned down, but AGS's shares have since risen to $8.10, valuing the company at around $300 million in the stock market today.
Initially, AGS's market cap stood at over $220 million, with shares priced at around $6.05 each. Inspired's bid, valued at $10 per share or $370 million in total, was rejected by AGS. Following this rejection, AGS's shares surged to as high as $8.50 in the stock market. Despite the setback, AGS has confirmed that negotiations with potential suitors continue. Currently, talks are underway with Light & Wonder, formerly known as Scientific Games, regarding a possible merger in the stock market today.
AGS's market cap has grown significantly since Inspired's rejected bid, reaching approximately $300 million in the stock market today. The company's shares are now trading at $8.10 each. While a potential merger with Light & Wonder is being discussed, AGS assures that negotiations are ongoing to find a mutually agreeable sum with interested parties in the stock market today.
