Aug 20 (Reuters) - Gambling company Bwin.party DigitalEntertainment Plc, which put itself up for sale, hasbecome the subject of a bidding war.
GVC Holdings Plc, whose offer for the company wasturned down in favour of one from rival 888 Holdings Plc, has twice come back with higher offers.
All eyes are now on Bwin to see what it decides and whether888 will return with a higher offer.
Following are some of the key developments in thelong-running saga:
May 5, 2014 - American activist investor Jason Ader claimssupport for Bwin shake-up to tackle what he describes as acontinuing decline in the business.
May 22, 2014 - Bwin agrees deal with investor on boardchanges.
June 26, 2014 - Company is considering selling itself orpart of the company as part of a strategic review, Bloombergreports, citing two sources.
June 26, 2014 - Bwin says no plans to break up or sellcompany.
July 15, 2014 - Bwin announces further cost cuts to help itmeet targets for the year.
Oct 10, 2014 - Britain's plans to bring licensing andtaxation of online gambling companies under UK control get greenlight when a court dismissed legal challenge to the move.
Nov 12, 2014 - Bwin says in early talks with a number ofparties over a "variety of potential business combinations,"which could result in an offer for the firm.
Jan 30, 2015 - Bwin says new EU VAT rules to hurt 2015revenue and cashflow.
March 11 - Bwin says talks about selling all or part of itsbusiness have become more serious.
March 21 - GVC CEO tells Reuters that the company is intalks for acquisitions and "something like" Bwin would be ofinterest.
May 15 - GVC says it has submitted a bid for Bwin.
May 17 - 888 to make a takeover approach for Bwin, theSunday Times reports.
May 18 - 888 says it has submitted a proposal to buy Bwin incash and shares.
May 18 - GVC preparing to make a 1.5 billion euro ($1.7billion) offer for Bwin in partnership with Canada's Amaya Inc, Reuters reports, citing source close to the matter.
May 19 - GVC says it will finance bid for Bwin with Amaya.
May 21 - Bwin says it expects to "reach a conclusion" incoming weeks as discussions with suitors enter a new stage.
July 8 - GVC offers to buy Bwin for about 900 million pounds($1.39 billion), the Financial Times reports.
July 9 - Bwin says GVC offers to buy it in cash and stockdeal valued at 908 million pounds ($1.4 billion)
July 17 - 888 wins battle for Bwin with cash and stock dealworth almost 900 million pounds ($1.4 billion).
July 21 - GVC says it is considering options regarding Bwin,but there is no certainty it will make new offer.
July 27 - GVC returns with a new 1-billion-pound ($1.55billion) bid for rival Bwin.
Aug 7 - GVC raises offer for Bwin to 1.03 billion pounds($1.6 billion).
Aug 14 - Syndication of a $650 million buyout loan,underwritten by Barclays and JP Morgan and backing 888's bid forBwin, put on hold pending clarity on M&A process, Reutersreports, citing banking sources.
Aug 18 - GVC sued by Canadian sports and entertainmentconsultancy 37 Entertainment, which accused it of reneging on adeal because of its bid for Bwin, the Times reports. (http://thetim.es/1JdflQU)
Aug 20 - GVC says it is ready to increase its offer for Bwinto at least 130 pence per share, or about 1.1 billion pounds($1.72 billion), the Times reports.
Aug 20 - GVC may increase its offer for Bwin a third time,Reuters reports, citing source close to GVC. (Compiled by Aastha Agnihotri and Abhiram Nandakumar inBengaluru)
