GVC Teams With Cerberus to Bid for Bwin, S. Times Reports
2015-07-26 08:12:04.903 GMT
By Abigail Moses
(Bloomberg) -- GVC Holdings Plc, Cerberus will offer GBP1b
for Bwin.party Digital Entertainment Plc, S. Times reports,
citing unidentified people familiar with the matter.
* GVC, Cerberus working on revised bid of GBp115-120/share;
GVC previously offered GBp110/share
* Bwin has already agreed GBp104p bid from 888 Holdings Plc
* Cerberus to provide debt financing for GVC’s new counter-
bid; cash-and-shares offer expected this week
* Cerberus declined to comment to Times; GVC said it was
“considering options”
* NOTE: July 21: GVC Considers Whether to Stay in Race to
Acquire Bwin.party
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To contact the reporter on this story:
Abigail Moses in London at +44-20-3525-2118 or
amoses5@bloomberg.net
To contact the editors responsible for this story:
Shelley Smith at +44-20-3525-2020 or
ssmith118@bloomberg.net
Abigail Moses
2015-07-26 08:12:04.903 GMT
By Abigail Moses
(Bloomberg) -- GVC Holdings Plc, Cerberus will offer GBP1b
for Bwin.party Digital Entertainment Plc, S. Times reports,
citing unidentified people familiar with the matter.
* GVC, Cerberus working on revised bid of GBp115-120/share;
GVC previously offered GBp110/share
* Bwin has already agreed GBp104p bid from 888 Holdings Plc
* Cerberus to provide debt financing for GVC’s new counter-
bid; cash-and-shares offer expected this week
* Cerberus declined to comment to Times; GVC said it was
“considering options”
* NOTE: July 21: GVC Considers Whether to Stay in Race to
Acquire Bwin.party
For Related News and Information:
First Word scrolling panel: FIRST<GO>
First Word newswire: NH BFW<GO>
To contact the reporter on this story:
Abigail Moses in London at +44-20-3525-2118 or
amoses5@bloomberg.net
To contact the editors responsible for this story:
Shelley Smith at +44-20-3525-2020 or
ssmith118@bloomberg.net
Abigail Moses