1st Sep 2015 06:20
LONDON (Alliance News) - Bwin.Party Digital Entertainment PLC on Tuesday said it has now received a revised takeover bid from 888 Holdings PLC, as the latter attempts to ward off the continued attempts to derail its deal with Bwin.Party by smaller rival GVC Holdings PLC.
FTSE 250-listed Bwin.Party said it is now evaluating the new 888 proposal, in addition to the one it has received from GVC Holdings, and will consult with key shareholders in coming days before making a decision which bidder to go with.
It said its unanimous recommendation of 888's previous offer remains unaffected by the ongoing talks. Bwin.Party didn't state the value of 888's new offer.
888 and GVC have been locked in battle in recent weeks, as GVC has attempted to trump 888's agreed takeover bid for Bwin.Party. GVC has consistently increased its offer and made a final bid last week which values Bwin.Party at around GBP1.02 billion or 124.0 pence per share, much higher than the 104.09 pence per share value of 888's previously agreed bid.
By Sam Unsted; [email protected]; @SamUAtAlliance
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