It seems as though the acquisition of bwin.party may never take place, with the bidding war continue to unfold. After 888 Holdings was chosen to acquire the top online gaming company over GVC Holdings, the GVC group sent another bid for the company, just a short time ago. Now reports have surfaced that GVC Holdings could be set to make a final offer for the acquisition of bwin.party’s sports betting, casino and poker site.
It is believed that GVC could be set to offer as much as $1.7 billion to bwin.party for the acquisition of the company. It was just after the news of Barclays and JP Morgan having frozen a loan set to help 888 Holdings with the purchase of bwin.party that the news of GVC offering yet another deal came to light. This time around, GVC could be offer as much as 130 pence per share. The original offer by GVC included 100 pence per share.
Despite the financial issues of 888 and the possibility of a new deal by GVC, many feel as though there will be no change in the acquisition of bwin.party. Since the board already accepted the offer of 888, the company should have the option to adjust their current offer no matter what.
In a report at Cardschat, it states that if a new bid is accepted by bwin.party, 888 will most likely choose to offer a different set of takeover conditions that will be more favorable instead of trying to outbid GVC. The board of bwin.party preferred the 888 proposal over GVC as it offer better future conditions while considering the merger. The challenges of a reverse takeover deal by GVC for bwin may help 888 continue to have approval of the company.
No matter which company is chosen, bwin.party stands to do quite well. Bwin.party has had issues presently when it comes to online poker gaming and a purchase price above the current share value is a plus considering.
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