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888 walks away from bwin.party after GVC ups offer

4th September 2015 11:29 am GMT
888 Holdings

888 Holdings says it no longer sees “sufficient value” in bwin.party to warrant revising its offer to acquire the business, after the London-listed operator today backed a 129.64 pence per share bid from GVC Holdings.

The recommended offer from GVC, which values bwin.party at £1.116bn, resulted in the withdrawal of the bwin.party board's earlier recommendation of 888's offer.

As a result, the co-operation agreement of July 17th between bwin.party, 888 Holdings and 888 Acquisitions has been terminated.

[...]

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