After the collapse of the CVC takeover bid, Betfair’s former chairman and co-founder, Ed Wray, told the Sunday Telegraph that restructuring the company's balance sheet would allow it to work more efficiently.
Wray said that uninspiring share price performance created the conditions that allowed CVC to approach in the first instance.
Betfair rejected CVC’s first offer of 880p per share and its subsequent improved offers of 920p and 950p, on valuation grounds.
Wray commented: “I think there’s still some work to do… to me the share price is not commensurate with how the business is performing.”
