SBC News Bwin admits to talks amid rumours of £1.2bn takeover

Bwin admits to talks amid rumours of £1.2bn takeover

bwinpartBwin.party has admitted to the stock markets that it has been looking at a variety of different partnerships as it looks to create value for shareholders, as rumours persist that the Amaya Group has been making moves to snap up the operator with a £1.2bn takeover offer.

In a statement, it revealed: “Further to recent media speculation regarding a possible bid for bwin.party, the Board of bwin.party confirms that it has entered into preliminary discussions with a number of interested parties regarding a variety of potential business combinations with a view to creating additional value for bwin.party shareholders. Such discussions may or may not result in an offer being made for the company.

“However, as all such discussions remain at a preliminary stage, there can be no certainty as to whether or not they will result in any form of transaction with any party.”

The announcement has seen bwin’s share price jump 10%.

Amaya’s recent acquisition of PokerStars parent The Rational Group indicated just how serious the Toronto-listed firm was in buying a portion of the market, and the strong sportsbook element of bwin.party would plug into that nicely. Playtech has also been linked with M&A activity after issuing a £248m convertible bond this morning to fund ‘organic opportunities’.

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