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Empire Online May Sue PartyGaming
21st 2005f November 2005
In October PartyGaming blocked Empire Online players who use the skin serves Empire offers from playing each other; soon after Empire saw stocks drop by half. During this time they were being valuated by poker giant PartyGaming for a possible takeover, something they were not unfamiliar with, as Sportingbet was in talks about a possible takeover, which fell through in September. When the valuation came back too low, however, (the initial valuation was placing the value at one tenth of the total share capital of the merged company) Empire Online stopped talking about a merge and started talking about legal action.
Empire Online issued a statement that said: "Having received legal advice, the Directors intend to institute and vigorously pursue legal proceedings as soon as possible."
The company remains optimistic. It believes it can deliver profits for the year ending 31 December in line with market expectations.
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