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Sports betting firm GVC offers 900 mln stg for rival Bwin.Party

Reuters - UK Focus

July 9 (Reuters) - Online gambling company Bwin.Party Digital Entertainment Plc said GVC Holdings Plc (Other OTC: GMVHF - news) has offered to buy the company for 110 pence per share in cash and stock, valuing it at about 900 million pounds ($1.39 billion).

GVC's offer represents an 11 percent premium to Bwin.Party stock's Wednesday close.

The Financial Times reported on Tuesday that GVC Holdings has offered to buy bigger rival Bwin.Party for about 900 million pounds.

In May, GVC Holdings had submitted a bid for Bwin.Party, which put itself up for sale last year. ($1 = 0.6488 pounds) (Reporting by Aastha Agnihotri in Bengaluru; Editing by Gopakumar Warrier)