Online gambling firm GVC Holdings has made a new offer of about £1 billion (€1.4 billon) for peer Bwin.party Digital Entertainment, which recently accepted a bid from 888 Holdings.
GVC said under its offer Bwin.party shareholders would get 122.5 pence for each Bwin share, consisting of up to 25 pence in cash and the remaining in new GVC shares.
The company said Cerberus Capital Management would provide a €400-million senior secured loan.
Online casino and poker firm 888 clinched a deal worth nearly £900 million to buy Bwin.party earlier this month, lower than a rival £908-million bid from GVC and its Canadian partner Amaya.
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Reuters
