Earlier this month, Boss Media announced that GEMed AB, a company jointly owned by GTECH and Medströms, had expressed its intent to purchase 100 percent of the online gaming company’s outstanding shares for SEK 19.00.The Boss Media had until February 27 to accept the offer.

No need to wait that long.Wednesday, GEMed AB drastically increased its offer to SEK 25.00.Two mutual fund management firms, Swedbank Robur and Zenit, promptly sold 8.6 million shares to GEMed AB, making GEMed AB the majority shareholder of Boss Media, with 15.8 million shares.  

Therefore, while GEMed AB does not own 100 percent of the company, it is now effectively the owner of Boss Media.

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