Online Betting Company Bwin Accepts GVC Takeover Bid

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Online wagering company Bwin accepts GVC takeover bid
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4 September 2015
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Online wagering business Bwin has accepted a ₤ 1.1 bn takeover deal from GVC Holdings in choice to competing bidder, 888 Holdings.

Bwin had originally accepted an bet9ja's welcome offer from 888, worth about ₤ 900m, however GVC, the owner of Sportingbet, resisted.

Bwin - whose brands consist of Partypoker, Partycasino and Foxy Bingo - stated GVC's deal was "reasonable and sensible".
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Bwin chairman Philip Yea stated in a business video that investors were split about abandoning the yohaig code 888 bet9ja's welcome offer.

"There was a quite even divided of those that revealed views one method or the other. But we also had a substantial block of shares that mored than happy to support the board on its deliberations,"

GVC's offer, external of 25p in money and 0.231 new GVC shares concerns almost 130p per Bwin.party share based on Thursday's closing price.

Reducing expenses

Bwin said the GVC bet9ja's welcome offer provided ₤ 120m extra value compared to the 888 bid.
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the yohaig code business said they were also swayed by higher anticipated cost savings and GVC's track record of integrating acquisitions, such as that of Sportingbet in 2013.

Earlier this promotion code week it was reported that GVC was prepared to introduce a hostile quote for Bwin.

The 888 board confirmed it had withdrawn from the bidding process it can not see enough worth in Bwin to increase its deal.

Stricter regulations are pressing online gaming companies to merge to try and lower running costs.
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Size is also viewed as important to guarantee competitiveness in an online market buoyed by the yohaig code usage of tablets and mobiles.
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Shares in Bwin, rose in early trading in action to the news, however have actually because fallen.

GVC shares shut down by nearly 4%. Meanwhile 888 shares closed up by 0.31%.
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GVC declines to quit on Bwin quote

7 August 2015
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27 July 2015

888 in takeover technique for Bwin

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Bwin.party

GVC Holdings

888 Holdings
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