9th Sep 2015 06:33
LONDON (Alliance News) - Bwin.Party Digital Entertainment PLC on Wednesday confirmed it has terminated takeover talks with 888 Holdings PLC, following the agreement it sealed last week to be to acquired by GVC Holdings PLC.
888 already had confirmed last week that it had stopped the talks with Bwin, after the FTSE 250 company decided to spurn 888 following consistently higher bids entered for the company by GVC, an AIM-listed gaming company and the owner of the Sportingbet business.
Last week, GVC said the Bwin board has agreed to its takeover offer of 25 pence in cash and 0.231 GVC shares per Bwin share, valuing the company at around GBP1.12 billion, or 129.64 pence per share.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
GVC.L888.LBPTY.L