27th Aug 2015 08:28
LONDON (Alliance News) - Bwin.Party Digital Entertainment PLC on Thursday said the key aspects of GVC Holdings PLC's bid for the company have now been addressed, adding a further twist to the takeover saga centring on the FTSE 250 online gaming company.
On Monday, GVC said it had made a fully-funded proposal to acquire Bwin.Party and derail the latter's agreed takeover by 888 Holdings PLC. The pair were working through the remaining issues of GVC's bid, and Bwin.Party said Thursday that process has now been completed.
It has now asked GVC to clarify the best terms on which it is prepared to make an offer to acquire Bwin.Party's shares and be issued shares in the company.
Bwin.Party said there remains no certainty an offer will be made by GVC and said its agreement with 888 remains unaffected by the talks with GVC.
Bwin.Party shares were up 0.6% to 114.33 pence on Thursday morning, while GVC shares were up 1.8% to 429.90p. 888 was up 1.1% at 157.25p.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
GVC.L888.LBPTY.L