Boss: GEMed Takes Majority Contro

18 February 2008

GEMed, a jointly-owned investment vehicle consisting of Medströms and Gtech, said today that it has secured 61.5 percent of Boss Media and must now make a mandatory bid for the rest.

Last Thursday, Boss Media Chief Executive Michael Hallén said that GEMed controlled roughly 50 percent of Boss' issued share capital, after it upped its per-share offer from SEK 19.00 to SEK 25.00 ($4.00).

GEMed said that stock exchange rules required a bid for the rest of the group.

On the OMX Nordic Exchange, shares in Boss closed even at SEK 25.00.

The IGN staff continually troll the wires, foreign papers, corporate news alert services and other dark, dusty corners of the Web to bring you the very latest industry news.