EGT receives tender offer from Melco

Entertainment Gaming Asia Inc. on Monday confirmed that Melco International Development Ltd. has commenced a cash tender offer to acquire all outstanding shares of the company.

Melco International Development Limited, through its wholly-owned subsidiary EGT Nevada Holding Inc., commenced the unsolicited cash tender offer at a price of $2.35 net per share, according to a press release from EGT.

“The Board of Directors of the Company is carefully reviewing and considering, in consultation with its advisors, all aspects of the offer,” said the company.

“The Company’s stockholders are advised not to take any action with respect to the offer until the Board has filed with the SEC its Solicitation/Recommendation Statement on Schedule 14D-9 with respect to the offer and disseminated such statement to the company’s stockholders,” it added.