15th May 2015 10:53
LONDON (Alliance News) - bwin.party digital entertainment PLC Friday confirmed it is in talks with numerous third parties over potential mergers and acquisitions activity.
In a statement, bwin said it has received revised proposals, including from GVC Holdings PLC, over a "variety of possible business combinations".
Separately, AIM-listed GVC Holdings said it has submitted a proposal with a view to acquiring the FTSE 250 online gaming company.
"If the proposed transaction were to complete, it would be treated as a reverse takeover due to the size of bwin.party relative to the company and, in order for the proposed transaction to proceed, it would require, inter alia, the approval of GVC shareholders," GVC said.
Both companies said there can be no certainty of a deal going through. The statements were issued following press reports.
bwin shares were up 7.7% at 96.00 pence on Friday, while GVC shares were down 0.8% at 455.00p.
By Samuel Agini; [email protected]; @samuelagini
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