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September 24, 2021

bwin.party Board will update shareholders in due course

GVC makes improved proposal to Bwin

GVC makes improved proposal to Bwin
The Board of bwin.party has confirmed that bwin.party is working closely with GVC and its advisers with a view to progressing certain aspects of the GVC proposal to enable that proposal to be evaluated fully by the bwin.party Board.
United Kingdom | 08/07/2015

The Board of bwin.party has confirmed that bwin.party is working closely with GVC and its advisers with a view to progressing certain aspects of the GVC proposal to enable that proposal to be evaluated fully by the bwin.party Board.

B

win.party stated its recent recommendation of a rival bid by 888 Holdings was "unchanged" - although that may change in the coming days, and emphasized that there was no certainty that a full offer will be made by GVC

The new GVC deal will offer, in exchange for each Bwin share, 25p in cash and 0.231 new GVC ordinary shares, which based on the closing price of GVC shares on 6 August of 435p, would represent a value of approximately 125.5p per Bwin.party share. GVC said it anticipated that the discussion with Bwin and its advisers "should conclude within the next 5-10 business days". Shares in GVC were up 0.5% to 437p and Bwin up 0.6% to 117p by 11:00 on Friday.

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