888 Holdings Drops Out of Bidding War for Bwin.Party

After Bwin.Party’s announcement that it had switched its recommendation from 888 Holdings to GVC Holdings for the acquisition of its company and 888 responded in a press release stating that it has dropped out of the bidding war.

Bwin.Party’s board has withdrawn its support for 888 Holdings’ July bid and the company has opted not to submit a revised offer saying:

"The 888 board has concluded that, as a result of its own extensive due diligence on bwin.party, it cannot see sufficient value in bwin.party to warrant a revision to its offer. Consequently, 888 confirms that it is no longer in discussions regarding the acquisition of bwin.party.”
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    sharpe

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    For a long time from that saga 888 Holdings was the favourite to be the next Bwin Party owner and was recommended by the Bwin Party board. Obviously the turn in boards opinion was the decisive move that makes the company to drops out from the bidding war. It was really endless saga this one but maybe finally we could see the end of it.
  • Jade lcb

    jade

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    They say that "war is hell' and in this case, this bidding war has been hell for everyone involved, including me ha, ha. ha.. OK, 888 has dropped out and what does that mean for everyone else. It seems like forever either Bwin.Party was considering it's options, whatever that means or contemplating the merits or bid of those two, 888 Holdings & GVC AD NAUSEAM......... Come on Bwin.Party, take the deal already, before the whole thing blows up in your face, if you know what I mean.............

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