Tag Archives: bwin.party

888 stands by its bwin.party takeover bid

Following yesterday’s announcement that the governance of bwin.party Entertainment were reviewing the conditions of GVC’s 122.5p per share takeover bid (value -£1.1 billion). 888 Holdings has stated that it remains confident in its offer of £908 million trumping GVC’s increased bids. 888 governance had noted that it was aware of the review undertaken by bwin.party, however the board continues to believe …

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bwin.party wants GVC Holdings’ best offer

Following a review of key aspects of the proposed GVC Holdings’ £1 billion takeover bid, bwin.party Entertainment governance is reported to have asked the operator to table its best possible offer. UK business sources have stated that bwin.party governance were satisfied with key conditions attached to GVC proposal. The review of GVC’s takeover bid has been examined with the potential …

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Analysts believe ‘Betty Power’ won’t be the last major merger deal

The markets have responded positively to today’s announcement by Paddy Power and Betfair that they are considering a merger. Betfair shares jumped 18%, while Paddy Power’s have increased by more than 15%. In contrast, the share prices of competitors William Hill and Ladbrokes have dropped on the news. Writing in the FT’s Lombard column, Jonathan Guthrie said that the merger …

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GVC Holdings states it will only re-bid for bwin.party if 888 increases current offer

Having placed its takeover bid past the £1.1 billion mark, UK news sources have stated that GVC Holdings governance could “walk away” from its ongoing battle with 888 Holdings for bwin.party Entertainment. Speculation has been rife regarding the takeover of bwin.party and its two bidding rivals GVC and 888. Last week The Times reported that GVC Holdings and its bid …

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The Times – GVC set to increase takeover bid for bwin.party

UK newspaper The Times has reported that London AIM listed operator GVC Holdings is considering an increase to 130p per share for its takeover bid of bwin.party Entertainment. The reported bid increase, would represent GVC’s third attempt at luring bwin.party away from bid leader 888 Holdings, who have offered a takeover deal valued at £908 million. On 7 August, reacting …

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Barclays & JP Morgan place 888 Holdings takeover loan on hold

The syndication of 888 Holdings $650 million leveraged loan for the takeover of bwin.party Entertainment has been put on hold by investment banks Barclays and JP Morgan. The financial institutions are said to be waiting for further clarity on the M&A process, following a new bid of 125.5 pence per share deal (bid sum £1.03 billion) by bid competitor GVC …

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GVC reloads bwin.party offer at 125.5 pence per share

This morning GVC Holdings Plc issued a corporate statement confirming that it has made a new fully funded proposal for bwin.party Entertainment, in its attempt to win the takeover of the company from competitor 888 Holdings. Its new proposed bid will see bwin.party shareholders receive 25 pence in cash and 0.231 in new GVC issued shares. Based on GVC’s closing …

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Ader’s Springowl tells GVC Holdings to increase its bwin.party bid

New York activist investor Jason Ader has suggested that GVC Holdings Plc will need to increase its 122.5p per share offer in order to succeed in its takeover bid for bwin.party Entertainment. Ader’s investment fund Springowl, which owns 5.2% of bwin.party, has stated that GVC Holdings and its bid backer Cerberus Capital Management will need to up its offer to …

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Lee Richardson – Gaming Economics – The battle for bwin.party; too soon to celebrate?

After last month’s proposed £2.3bn (€3.23bn) merger between Ladbrokes and Coral was amicably agreed last week – subject to approval by the UK Competition and Markets Authority – the industry moves onto what could become a more bitter battle. Ten days ago, 888.com’s £900m (€1.27bn) offer to acquire its larger e-gaming rival Bwin.party Digital Entertainment (Bwin) was accepted, announced and …

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GVC Holdings ups bwin.party takeover bid to £1 billion

Following last week’s announcement that it would consider its options regarding its acquisition bid for bwin.party entertainment, GVC Holdings has tabled a £1 billion takeover offer to snatch the operator from 888 Holdings. Having ended its bwin.party special purpose acquisition vehicle with Toronto Listed Amaya Inc which offered an initial£908 million for the operator. GVC has secured deal funding for …

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