The board of bwin.party has confirmed that it has received a proposal from GVC Holdings to acquire the operator at a price of 110 pence per bwin.party share, comprising a combination of new GVC shares and cash.
In statement, bwin.party said: “The board has considered the GVC proposal, the potential benefits of which it believes can accrue to bwin.party shareholders from a combination of the two companies and the commitment shown to resolving a number of transaction-related issues, and has determined to work with GVC so that they can finalise their offer over the coming days.
“There can be no guarantee that a formal announcement of a transaction will be made by GVC or any other party, and the board will make further announcements in due course.”
