PlayAGS has rejected Inspired Entertainment’s offer to buy the company at $10 per share (or $370m total).
The supplier has specified that it is only rejecting this particular offer and will remain in discussions with Inspired.
In a statement, AGS’s Board and management said they are fully committed to focusing on the best interests of the stakeholders, and will therefore carefully review any proposal received.
After news broke that an offer had been submitted, PlayAGS stock went up 34%, from $6.04 to $8.06 Friday, and opened at $8.25 Monday.