bwin.party has received a revised proposal from 888 Holdings, which is vying with GVC Holdings to acquire the online gaming operator.
Following last week’s progress on an offer from GVC, bwin.party said Tuesday that it has now received a revised proposal from 888, which is being evaluated by the board together with GVC’s proposal.
The company added that it will consult with its key shareholders in the coming days before making a determination as to which proposal best serves the interests of its shareholders, with a further announcement to follow in due course.
The GVC offer values bwin.party at 124.00 pence per share, higher than the original 888 offer of 104.09 pence per share. Despite the higher offer, however, bwin.party’s board maintains its recommendation of 888, which it says offers “a higher degree of certainty for shareholders and greater synergies between the companies’ offerings”.
Shares in bwin.party digital entertainment plc (Co. Data) (LSE:BPTY) were trading down 0.26 per cent in London early Tuesday at 116.10 pence per share, with 888 Holdings plc (Co. Data) (LSE:888) down 0.50 per cent at 161.94 pence per share and GVC Holdings plc (Co. Data) (LSE:GVC) up 2.01 per cent at 457.00 pence per share.