From todays Daily Mail17 Nov 2012 15:25
Online gaming group Sportingbet eased 0.25p to 50p as it awaited further bid news. William Hill (1.6p off at 328.9p), Britain’s biggest bookie, has been given until December 4 to submit a formal bid for Sportingbet following a £530m bid approach.
Discussions continue between Hill and joint bidder GVC Holdings. They won provisional backing from the Sportingbet board last month for a cash and share approach, valuing Sportingbet at 61.1p a share.
Word now is Sportingbet’s institutional shareholders would bite Hill and GVC’s hands off at that price and would even take a few coppers less. Why? Apparently, recent trading has been dire and should the bidders decide to walk away, a profits warning could well be on the cards. Where would the share price be then?
Oh dear not sure what to do.