|Parlay Entertainment, the Canadian developer and licensor of online bingo software, has received an ‘unsolicited expression of interest’ from a second unidentified company that is superior to an earlier bid made by PEIC Acquisition Corporation.|
PEIC, which is currently in the process of due diligence regarding its offer, was established to invest in online bingo and gaming companies with registered offices in Barbados and signed a letter of intent to acquire Parlay for $12.3 million on January 11.
Parlay stated that it had not responded to the second proposal or negotiated any terms due to an exclusivity clause negotiated with PEIC. However, it announced that it would be in a position to participate in discussions with the offeror once this period ended.
There are currently no hints as to which of the two agreements would be acceptable to Parlay shareholders or whether any transaction will be completed as a result of this second proposal.