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Betfair rejects £912m takeover bid

22nd April 2013 7:26 am GMT

UK-listed online betting and gaming operator Betfair has rejected a preliminary £911.7m offer from private equity firm CVC Capital Partners and other investors on the basis that it fundamentally undervalues the company and its prospects.

Earlier this month, CVC Capital announced that it was in preliminary discussions with Richard Koch, Antony Ball and partners regarding options in respect of Betfair, which could include a possible offer for the company.

In a statement to the London Stock Exchange [...]

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