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Another offer made to acquire Gen Con

January 6th, 2009: Allan Sugarbaker says...
Another offer made to acquire Gen Con

LivingDice has the story, and as we suspected, more wild maneuvering is going on around ownership of Gen Con. As Gen Con LLC continues toward having its reorganization plan approved and creditors reassurred, the same Gen Con Acquisition Group that seemed to be making a takeover attempt of the company has made another, larger offer. To ensure it would be heard this time, the Acquisition Group has become one of Gen Con’s creditors by acquiring a $31,000 claim. Naturally, Peter Adkison, current owner of Gen Con LLC, has filed an official protest. As if this weren’t muddy enough, don’t forget that Anthony Gallela, who just stepped down as Executive Director of GAMA yesterday, has been named as the Acquisition Group’s intended head of Gen Con if the Group gains ownership. The full breakdown of the offer is at ICv2, so have a look. Added developments will surely surface after this Friday’s court hearing.

[UPDATE]: As multiple readers have reported in the comments, Gen Con LLC’s original proposal was accepted by the court on Friday. It looks like Gen Con can focus on throwing a convention again, and not worry about hostile takeover attempts and such.

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