The boards of UK-listed gaming operators Sportingbet, William Hill and GVC Holdings have reached agreement on a £485m offer that will see GVC acquire the entire capital of Sportingbet, with William Hill acquiring Sportingbet’s Australian business and securing a call option on Spain.

The recommended offer values each Sportingbet share at 56.1 pence and comprises 44.8 pence in cash and 0.0435 new GVC shares per Sportingbet share.

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