888 to Meet With Bwin.party to Thwart GVC Bid, S. Times Reports
2015-07-12 08:45:12.739 GMT
By Heather Burke
(Bloomberg) -- 888 Holdings will meet with Bwin.party to
try to secure a last-minute takeover agreement and counter GVC
Holdings’ 110p cash and stock offer for Bwin, Sunday Times
reported, citing unidentified people.
* GVC is preferred bidder; 888 would need to persuade
Bwin.party of benefits of the stock part of offer, after
being a bit short of GVC’s 110p valuation, according to
unidentified sources
* 888 probably won’t have a better cash bid and will focus on
the synergies between the 2 cos., especially overlap in
regulated gambling mkts: Sunday Times
* Bwin.party couldn’t be reached for comment in time for
publication; GVC, 888 declined comment: Sunday Times
* NOTE July 9: Bwin.Party said it received GVC takeover offer
and will work with the bidder to finalize offer
* NOTE May 18: 888 said its proposal to buy Bwin.party
includes cash and shrs
For Related News and Information:
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First Word newswire: NH BFW<GO>
To contact the reporter on this story:
Heather Burke in London at +44-20-3525-2044 or
hburke2@bloomberg.net
To contact the editor responsible for this story:
James Ludden at +44-20-3525-2645 or
jludden@bloomberg.net
2015-07-12 08:45:12.739 GMT
By Heather Burke
(Bloomberg) -- 888 Holdings will meet with Bwin.party to
try to secure a last-minute takeover agreement and counter GVC
Holdings’ 110p cash and stock offer for Bwin, Sunday Times
reported, citing unidentified people.
* GVC is preferred bidder; 888 would need to persuade
Bwin.party of benefits of the stock part of offer, after
being a bit short of GVC’s 110p valuation, according to
unidentified sources
* 888 probably won’t have a better cash bid and will focus on
the synergies between the 2 cos., especially overlap in
regulated gambling mkts: Sunday Times
* Bwin.party couldn’t be reached for comment in time for
publication; GVC, 888 declined comment: Sunday Times
* NOTE July 9: Bwin.Party said it received GVC takeover offer
and will work with the bidder to finalize offer
* NOTE May 18: 888 said its proposal to buy Bwin.party
includes cash and shrs
For Related News and Information:
First Word scrolling panel: FIRST<GO>
First Word newswire: NH BFW<GO>
To contact the reporter on this story:
Heather Burke in London at +44-20-3525-2044 or
hburke2@bloomberg.net
To contact the editor responsible for this story:
James Ludden at +44-20-3525-2645 or
jludden@bloomberg.net