Online gambling firm 888 clinches deal to buy Bwin.party for $1.4 bln

Fri Jul 17, 2015 1:46am EDT
 
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July 17 (Reuters) - Online gambling firm 888 Holdings Plc said it would buy peer Bwin.party Digital Entertainment in a cash and stock deal valued at about 898 million pounds ($1.40 billion).

The offer of 104.09 pence per share is at a 1.2 percent premium to Bwin.party's close on Thursday and consists of 39.45 pence in cash and 0.404 new 888 shares for each Bwin.party share.

Bwin.Party, which has been at the centre of a takeover battle, said earlier this month that GVC Holdings Plc had offered to buy it in a cash and stock deal valued at 908 million pounds ($1.4 billion). ($1 = 0.6398 pounds) (Reporting By Mamidipudi Soumithri in Bengaluru; Editing by Anupama Dwivedi)