Tag Archives: 888 Holdings

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 …

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 …

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 …

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 …

Speaking to The Times, 888 Holdings Chairman Brian Mattingley stated that he remains confident that his firm would win in its pursuit of bwin.party Entertainment, against the increased takeover bid of GVC Holdings. Mattingley who replaced Executive Chairman Richard Kilsby in May, told The UK newspaper that he expects a clean and fair fight for bwin.party operations, as GVC increased …

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 …

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 …

GVC Holdings is considering its options regarding its takeover bid for bwin.party Entertainment, after the FTSE listed operator announced last Friday that it had agreed a deal with acquisition competitor 888 Holdings. In a statement GVC governance commented that there was no certainty that it would make a fresh bid for bwin.party. GVC who had created a special purpose vehicle …

This week marks a crucial chapter in the battle for bwin.party Entertainment, as industry analysts expect 888 Holdings to counter the £906 million reverse takeover offer put forward by GVC Holdings. At present GVC are thought to be front runners in the acquisition, as last week bwin.party governance confirmed the £908 million cash and new shares bid, which values bwin.party …

bwin.party Entertainment governance have confirmed the GVC Holdings reverse takeover offer of £908 million ($1.4 billion) for its entire business operations. The operator’s governance is set to work with GVC in order to formalise the deal which it will present to its shareholders in order to proceed with its acquisition. The deal is set to compromise of a cash sum …