888 Holdings Confirm Acquisition Offer For Bwin.Party
The rumor mill around the possible acquisition of bwin.party continues in full force. The latest is that 888 confirmed they have made an offer to acquire bwin.party. In a statement 888 said their offer would be a combination of both shares and cash.
888 is not the only party interested in bwin.party and there is talk of a joint bid from Amaya Gaming and GVC. In terms of that rumored bid, Amaya would acquire bwin’s regulated poker and casino business and GVC would acquire the sportsbook aspect of the business.
Shareholders of 888 would have to approve the deal and it is rumored already that 59% of the shareholders of 888 have already voted to approve the offer. Once again 888 were cautious about confirming the deal as a done issue and said that there was “no certainty” that it would be completed and will continue to update accordingly. From their side bwin.party seems to be enjoying the attention from rival companies as they confirmed talks are undergoing with a number of parties regarding a takeover.
Bwin party said in a statement, ”The board of bwin.party has noted the announcement made by 888 Holdings and confirms that it has received a proposal to acquire the entire issued and to be issued share capital of bwin.party. The board and its advisers are conducting a detailed review of the proposals received to-date and will make a further announcement in due course, however there can be no certainty that these proposals will result in a transaction being completed.”