Betting technology group Sportech has turned down two takeover offers from New York investment firm Standard General.
The cash offers amounted to 25p and then 28.5p per Sportech share.
However, the company’s board unanimously rejected the moves, stating that the proposal “fundamentally undervalues Sportech’s businesses and prospects”.
Last month, Sportech signed a new multi-year contract with UK Tote Group to deliver pools betting technologies. A lack of sporting action saw the company’s revenues drop during the first half of 2020, down to £20.2m from £33m the previous year.
