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GVC Raises Bid for Bwin Again

Internet betting firm GVC Holdings has again re-upped its bid for online firm Bwin.Party once again, announcing they have bid £1.1 billion for the group, re-upping its bid for the firm for the third time.

Bwin had previously bid £1 billion and £1.03 billion for the firm, and the newest bid values Bwin at a price of 130p per share. GVC has reportedly teamed up with American private equity firm Cerberus Capital to submit the bid.

Bwin is reportedly set to consider the new bid at a meeting today, although one major shareholder is reportedly holding out to get a price of at least 140p per share. The company had previously reportedly agree to a deal with 888 Holdings, although the company's £898 million bid is beginning to look shoddy against GVC's repeated bids. Bwin is also slated to give 888 a chance to re-bid with something more competitive.

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