There has been a lot of takeover talks surrounding bwin.party. On Friday, GVC Holdings announced that they have bid to take over the entire share capital of bwin.party in a reverse, non-cash, takeover. GVC currently operates the likes of Sporting Bet, Bet Boo, and Casino Club. Also involved in the acquisition along with GVC is Amaya who would be involved in the financing and would look to take over the poker and casino side of the business while GVC took the sports betting side.
Heating up the race to take over bwin.party is none other than it’s arch rival, 888 Holdings, who confirmed today that they have put in a bid to take over the entire share capital of the operator. The offer would be made in both 888 shares as well as cash in a deal worth over £1bn. 59% of 888 shareholders have voted and are in support of the takeover including the Shaked family.
Bwin.Party have confirmed that they are indeed in talks with several parties stating, “Further to the increase in the company’s share price earlier today and speculation in the media, the board of bwin.party reconfirms that it is continuing its discussions with a number of third parties and has received revised proposals regarding a variety of possible business combinations.”
Bwin.party’s share price was up 11.4% this morning to 110.8p. Watch this space as we bring you the latest news in bwin.party takeover talks.
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