The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksBPTY.L Share News (BPTY)

  • There is currently no data for BPTY

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Paddy Power And Betfair, GVC And Bwin.Party Mergers Complete

Tue, 02nd Feb 2016 08:52

LONDON (Alliance News) - Two big mergers occurred in the betting industry on Tuesday as the takeover by Paddy Power PLC of Betfair Group PLC and by GVC Holdings PLC of bwin.party digital entertainment PLC were both completed.

Shares in both Betfair and bwin have now been cancelled and trading under the new merged companies has begun.

Irish bookmaker Paddy Power bought rival Betfair last year in a deal creating one of the world's largest online gambling firms with combined revenue of around GBP1.10 billion. The newly-merged company now trades under the name Paddy Power Betfair PLC.

GVC, meanwhile, bought larger FTSE 250-listed rival bwin in a deal valuing the latter at around GBP1.12 billion. GVC will now trade on the London Main Market.

Shares in GVC were trading up 8.4% at 506.13 pence on Tuesday morning, while Paddy Power Betfair shares were flat at EUR141.10.

By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews

Copyright 2016 Alliance News Limited. All Rights Reserved.

More News
7 Aug 2015 13:41

UPDATE 2-All in: GVC again raises offer to pry Bwin from 888

* GVC raises offer to 1.03 bln pounds from 1 bln * Bwin has accepted 888 Holdings's 900 mln pounds offer * Bwin could GVC offer to coax higher 888 bid-analyst (Adds analyst comment, 888 no comment, details around synergies, updates share movement) By Esha Vaish and Aastha Agni

Read more
7 Aug 2015 12:03

TIMELINE-Battle for Bwin: GVC, 888 wage a bidding war

Aug 7 (Reuters) - Gambling company Bwin.Party Digital Entertainment Plc, which put itself up for sale, has become the subject of a bidding war. GVC Holdings Plc, whose offer for the company was turned down in favour of a one from rival 888 Holdings Plc , has twice come back with higher offe

Read more
7 Aug 2015 11:26

CORRECTED-UPDATE 3-Gambling firm GVC raises offer to $1.6 bln for rival Bwin.party (July 27)

(Corrects paragraph 4 of July 27 story to say that the company has cut costs, not struggled with cost savings) * GVC makes 122.5p/share offer for Bwin * Says Cerberus Capital to provide 400 mln-euro loan * Cost savings to exceed 135 mln euros per annum By Aastha Agnihotri

Read more
7 Aug 2015 10:59

GVC makes improved proposal to Bwin

(ShareCast News) - GVC Holdings has begun talks with larger competitor Bwin.party over a new, fully-funded takeover proposal at 125.5p per share, with reports claiming its equity placing to raise cash for the deal was oversubscribed. Bwin.party quickly responded that it was "working closely" with

Read more
7 Aug 2015 10:10

Online gambling firm GVC raises offer for Bwin to $1.6 bln

Aug 7 (Reuters) - Online gambling company GVC Holdings Plc raised its offer for rival Bwin.party Digital Entertainment Plc to 1.03 billion pounds ($1.6 billion), hoping to pry the company away from 888 Holdings Plc . GVC's offer, its third, of 125.5 pence per shares - 25 pence in cash and

Read more
7 Aug 2015 10:07

TOP NEWS SUMMARY: UK Trade Deficit Widens; William Hill Shares Slump

Read more
7 Aug 2015 09:44

UPDATE: GVC Makes Cash And Shares Takeover Proposal For Bwin.Party (ALLISS)

Read more
7 Aug 2015 09:37

GVC Confirms Cash And Shares Takeover Proposal For Bwin.Party (ALLISS)

Read more
7 Aug 2015 09:28

2nd UPDATE: William Hill Interim Profit Falls, Buys NeoGames Stake

Read more
7 Aug 2015 08:16

UPDATE: William Hill Profit Down In Half Year, Buys Stake In NeoGames

Read more
28 Jul 2015 12:16

Credit Suisse ups Bwin to 'neutral', sees strategic rationale to 888 deal

(ShareCast News) - Credit Suisse upgraded Bwin.party Digital Entertainment to 'neutral' from 'underperform' and raised the price target to 110p from 80p, saying it's now very likely a deal will take place with 888 Holdings. CS said 888's proposal makes strategic sense. "We believe that focus on cos

Read more
28 Jul 2015 08:40

BROKER RATINGS SUMMARY: Panmure And Shore Capital Raise RSA Insurance

Read more
27 Jul 2015 18:30

FTSE 250 movers: Mining and oil stocks in the red

(ShareCast News) - Lonmin led the miners lower on the FTSE 250 after a downgrade from HSBC hurt the platinum producer's shares. HSBC downgraded the stock to 'hold' from 'buy' and slashed its price target to 82p from 222p. The bank said medium-term earnings and EBITDA estimates are substantially lowe

Read more
27 Jul 2015 11:15

LONDON MARKET MIDDAY: China Stock Market Reversal Weighs On US Futures

Read more
27 Jul 2015 10:13

TOP NEWS SUMMARY: Rollercoaster Crash To Wreck Merlin's 2015 Results

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.