G.v.c. Ups Its Bid For Bwin.party… Again

In partnership with US private equity group Cerberus Capital, GVC says it will go up to 130p a share

The bidding war between 888 and GVC for Bwin.Party warmed up again this week with the news that the GVC-Cerberus Capital partnership has upped the ante to 130p a share – a shares and cash offer worth around GBP1.1 billion and a significantly marked improvement on its earlier proposals of GBP 1.03 billion and GBP 1 billion – that's right; it's the company's third hike from its original bid, made in association with Amaya Gaming.
UK media reports indicate that Bwin.Party's board will consider the new bid at a meeting scheduled for this (Thursday) morning. However, there could be opposition from Bwin.Party shareholder Jason Ader, who has been doing the media rounds insisting that a fair price would be 140p a share.
888 Holdings is still in the running, although falling behind with its bid of GBP898 million, but it will reportedly be given an opportunity to re-bid, and claims that its plans for Bwin.Party are more attractive than those of GVC.

Online Casino News Courtesy of Infopowa

About the Author... Total Posts Written: 9,449
Casinomeister

Casinomeister

The man with the plan here at Casinomeister. Bryan Bailey has been running Casinomeister since its launch in June of 1998. He has watched the industry grow from its primeval stage to what it is now. The Meister has attended nearly 100 conferences in the past 20 years and has either been a speaker or a panel moderator for at least 60 events. He has always been an advocate of fairness and reason and is known to like German beer, a good Scotch, and astrophography.
bryan@casinomeister.com

See More Posts