Would GVC go hostile on a 888-bwin deal?
News on 2 Sep 2015
News on 2 Sep 2015
The news Monday that the Bwin-Party directorate still favours the 888 Holdings bid for it seems to have spurred rival bidder GVC Holdings to exert more media pressure in the ongoing bidding war.
The Reuters news agency reported Wednesday that in a Times interview GVC chairman Lee Feldman did not discount the option of “going hostile” if Bwin’s board recommends a lower offer from 888 Holdings, which is controlled by Israel’s Shaked and Ben-Yitzhak families.
The report quotes Feldman as saying: “We don’t see (going hostile) as necessary right now as we’re offering a higher price and have a better operating track record. That said, we believe GVC should own this asset and we wouldn’t exclude any strategy.”
Our readers will recall that 888 Holdings stepped up the battle for Bwin on Tuesday by submitting a revised takeover proposal to fend off GVC’s latest proposal.
