Multimedia (MGAM) in takeover talks-Business Week
Thursday, May 6, 1999 09:15 PM
NEW YORK, May 6 (Reuters) - Interactive bingo game company Multimedia Games Inc. could be the takeover target of a large maker of slot and poker video machines, Business Week reports in its May 17 edition.
The Austin, Texas-based Multimedia Games is in informal talks regarding a possible purchase by a player in the same business, Steve Flaks of Scottsdale, Ariz.-based Flaks Investment Partners, told the financial news weekly.
The company was not immediately available for comment to Reuters, but Gordon Graves, Multimedia Games' chairman and chief executive, declined comment to Business Week on whether the company is being courted.
Flaks also told the magazine that the shares of the company, which sells equipment to bingo halls across the U.S., could rise not only because of a takeover but also because it has introduced bingo online.
Flaks said he believes its shares may be worth $25, while they closed at $6.75 Thursday on the Nasdaq Stock Market.
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