GVC Holdings ready to up Bwin offer to 130p
Online casino company GVC Holdings is working on an increased offer for larger rival Bwin.party as it looks to crush a competing bid from peer 888 Holdings.
Bwin.party Digital Entertainment
124.00p
16:49 28/01/16
0.00%
0.00p
Entain
734.40p
17:15 01/11/24
-1.42%
-10.60p
Evoke (DI)
62.40p
16:40 01/11/24
1.22%
0.75p
FTSE 250
20,479.74
17:14 01/11/24
n/a
n/a
FTSE 350
4,508.38
17:14 01/11/24
n/a
n/a
FTSE AIM 100
3,581.36
16:54 01/11/24
n/a
n/a
FTSE AIM All-Share
739.00
16:54 01/11/24
n/a
n/a
FTSE All-Share
4,465.61
16:54 01/11/24
n/a
n/a
FTSE Small Cap
6,842.29
16:34 01/11/24
n/a
n/a
Travel & Leisure
8,153.56
17:14 01/11/24
0.52%
42.39
The GVC bid at 130p, up from its previous 124p, will value FTSE 250-listed Bwin at roughly £1.1bn, the Times reported.
Having recommended a cash-and-shares offer from 888 worth 104.75p at Wednesday's closing price, Bwin directors are due to meet this week to decide whether to about-face and recommend GVC’s new offer instead.
Even if 888 came back with its own sweetened offer, GVC would not be deterred, sources have suggested.