888 prepares final approach for bwin.party

Monday 13th of July 2015

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 stock at 110p per share.

Although the operators have not entered exclusive talks, bwin.party stated that it would work with GVC governance in order to formalise the deal which it would than present to its shareholders in order to proceed with the reverse takeover.

Industry commentators believe that any bid by 888, will represent the company’s last roll of the dice at acquiring bwin.party.

It is unlikely that 888 will out-match GVC’s £906 million offer, the Israeli operator will likely point to the stronger corporate synergies between bwin.party and its operations. These include offices in Gibraltar, listings on the London FTSE, shared technology platforms and close cultural ties as both 888 and Party Gaming were founded in Israel.

Embattled bwin.party has outlined its potential sale since the start of 2015. The operator has focused on its core business assets as it looks to find an optimal value for its potential sale.

Read more: http://www.sbcnews.co.uk/sportsbook/2015/7/13/888-prepares-final-approach-for-bwin-party/#ixzz3fren3DvX