Posted on: July 9, 2015, 02:21h.
Last updated on: July 9, 2015, 02:21h.
GVC’s Amaya-backed bid for bwin.party was confirmed by the board today.
Yesterday, The Financial Times broke the story that GVC had made a $1.4 billion offer to acquire the entire share capital of the online gambling firm; today, the bwin.party board said it was considering the offer and could see the “potential benefits” to bwin.party shareholders.
It was currently committed to resolving a number of “transaction-related issues,” it added.
It is unclear whether 888 Holdings, which made an offer for bwin.party in March, is still at the negotiation table.
“Any offer made by GVC for bwin.party would include part of the consideration in new GVC shares,” said Kenneth Alexander, Chief Executive of GVC Holdings, today. “Based on our experience with the successful Sportingbet acquisition and restructuring, we believe that the potential combination of GVC and bwin.party would result in substantial financial and