GVC ups its bid for Bwin.party… again

News on 20 Aug 2015

The bidding war between 888 and GVC for Bwin.Party warmed up again this week with the news that the GVC-Cerberus Capital partnership has upped the ante to 130p a share – a shares and cash offer worth around GBP1.1 billion and a significantly marked improvement on its earlier proposals of GBP 1.03 billion and GBP 1 billion – that’s right; it’s the company’s third hike from its original bid, made in association with Amaya Gaming.

UK media reports indicate that Bwin.Party’s board will consider the new bid at a meeting scheduled for this (Thursday) morning. However, there could be opposition from Bwin.Party shareholder Jason Ader, who has been doing the media rounds insisting that a fair price would be 140p a share.

888 Holdings is still in the running, although falling behind with its bid of GBP898 million, but it will reportedly be given an opportunity to re-bid, and claims that its plans for Bwin.Party are more attractive than those of GVC.

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