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Doubt you have anything to worry about. It's a typical panic for nothing reaction and you should see this bounce back up sharply. WH will have to wait a year to re-bid for 888.
By the way - 125m Euros of cost savings. They must be reliant on Teflon delivering them - because he's done so in the past NOT?. I feel that 888 has dodged an almighy bullet and surely but surely Hills will be back again soon.
Hi crookman I had looked in earlier and seen the upward spike this morning on the GVC news and am now musing at the 110p. There can surely be little upside here now and there remains the possibility of one further kick in the crotch if you were to stick around. I was rooting for you to get more and this morning it looked likely, however this is almost played out now. As for Teflon - How only knows could this person still be employed? Personally, I'd not trust him to butter ther rolls in Greggs without supervision. Have a nice weekend
Based on today’s reaction I’m sad to say that this thing could still go south very easily. The Major shareholders were split on the two offers so it will take some of the 888 supporters to get onboard to get the necessary majority. Worst case now will be the offer is not accepted and as we know 888 have now walked away. Why oh why is nothing straight forward this lot? The other issue I have is that Teflon will still be on the new board, why anyone would want that waste of skin anywhere near them is beyond me, he really does live up to my nickname for him. GL
http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/12487899.html
Notice the Times reports that GVC have threatened to go hostile if their higher bid is rejected. Should move the price up if that actually happens!
We dont even know the bid of GVC that was presented on the 28th...But its clear that the board really wants 888. Its enough 888 go up to a bid of 1.00 and they will get it. The board is still very concered about GVC....Dont forget the board said no thanks to both 1.00 and 1.03 from GVC. Concerns about if the new group will secure a main market listing on the London Stock Exchange and a New Jersey gambling licence....law suit, not being the right fit, plus large debt position.....
Why the secrecy with regards to the new 888 bid? Is it more cat and mouse to prompt GVC to go 130+ or is it that the new bid is still below the current share price and 888 are trying it on still? I still can’t see 888 overdoing any bid, it’s just not in their makeup to overpay for anything!! They do have a strong hand as it seems our board would always go with them over GVC unless the later makes it impossible for us shareholders to ignore. This is getting more interesting by the day……
Released at 16.18 today by 888. GVC to follow by Tuesday. Here we go.... http://www.lse.co.uk/share-regulatory-news.asp?shareprice=888&ArticleCode=w8phirjg&ArticleHeadline=Scheme_Document_Prospectus_and_Circular
Look's like Bwin are asking for a final bid from both GVC and 888. It wouldn't suprise me if the bids go over 130 per share. Roll on Tuesday.
27 August 2015 bwin.party digital entertainment plc ('bwin.party') Possible offer from GVC The Board of bwin.party confirms, further to its discussions with GVC Holdings PLC ('GVC'), that key aspects of GVC's proposal have now been addressed to bwin.party's satisfaction. bwin.party has now asked GVC to clarify, with respect to its proposal, the best terms on which GVC is prepared to make a formal offer to acquire all of the issued and to be issued shares in bwin.party. Whilst there can be no certainty that an offer will be made by GVC for bwin.party, 888 Holdings plc ('888') has been informed of this development and, if appropriate, will be given due notice in the event that bwin.party proposes to recommend an offer from GVC. bwin.party's directors' unanimous recommendation of 888's offer, that was announced on 17 July 2015, is unchanged by this announcement. The Board expects to give a further update concerning these matters on Tuesday, 1st September 2015.
With the announcement this morning of BET and PAP looking to merge this can only hasten GVC or 888 to get a deal done ASAP. The loser will have to start scratching around afterwards for another partner or find themselves becoming a small fish in a bigger pond. With BPTY results due Friday you have to wonder if that is going to be the day of the GVC deal announcement, then we wait for a response from 888 who have little option now but to increase their bid. Whatever happens from here, this needs to be resolved sooner rather than later now.
Can't really see them messing it up at this stage. GVC really need Bwin and they won't stop until they get it. Expecting 888 to up the bid very soon after reading this http://www.independent.co.uk/news/business/news/gvc-holdings-outbids-rival-888-in-1bn-fight-for-bwinparty-10470255.html
Hi Malta, Yeah, seems in good shape. The only downside from here is if they go with 888 at 104, but it’s looking like GVC is more likely now at around the mid 120’s. That is of course unless they make a complete mess of things and end up with both parties walking away, sounds ridiculous but we have to remember just how inept this board has been in the past. Will be interesting to see what 888's response will be if they provisionally go with GVC in the next few days?
Should have read Friday!
Due on Thursday, hopefully there will be some further news
Investment is pretty much a safe bet mate. It can only go up from here. It held nicely yesterday.
Well, relatively speaking, now bid 417- offer 420. not bad on the face of it, but a big move on recent movement.
GVC just took a tumble?
All I can say right now is thank God for this deal speculation dragging on as long as it has. BPTY, 888 and GVC are being protected very well from the turmoil that is the market as a whole right now. Just hope it stays that way!
Agreed much poker playing going on. I see the mail article expects higher bids. Let's hope something happens next week.
The Times "GVC Holdings is prepared to increase its offer for Bwin.party to at least 130p a share — or nearly £1.1 billion — in a final push to secure a takeover of its online gambling rival." "The Times understands that the Sportingbet owner, whose present cash-and-shares offer is worth 124p, is ready to raise the stakes for a second time to ensure that it defeats 888 Holdings, its rival in the auction."
Poker all round...