bankmuppet
18 May 2015
Amaya Just been going through all the press articles and note that Amaya have teamed up with GVC to compete with 888. This can only be good as far as the price paid is concerned and hopefully we can see something nearer my target of 140p. I am sure the Board will make a hash of it, but I think they have had enough and will want to see an exit strategy delivered. Let us all hope so andwe can put this incarnation out of its misery. I see another small rise tomorrow.
Ripley94
18 May 2015
Re: What is a good price? Buyers market could keep bid low.
Nice to Michu
18 May 2015
Re: What is a good price? We need one of the big guys - William Hill, Ladbrokes etc.- to get involved quickly of else I expect/fear this will go to 888 for 120-130p range. (This consolidation is complimentary to both parties thus undermining a big offer and there are currently there are too many players fighting over a smaller and smaller cake, making it a buyers market.)
Tjuringa
18 May 2015
Re: What is a good price? Hard to know - depends if its a cash offer or share swap or combination or whatever! I would have expected 120p would probably be the expected value level though - cant see it going much higher - but hope I am wrong! Would you pay over £1 billion for this company?
bankmuppet
18 May 2015
What is a good price? I will be interested to see how the KPIs shape up this week as I am of the opinion that the performance had hit the bottom and the only way was up from here. This share was worth 10 times it is now when it floated i.e. £12b...yip amazing it has been so well run...not!For the Board to accept a bid at circa 120p would in my view be criminal and does not carry my support for what it is worth i.e. bug##r all. I see some of the anal ysts upgrading the position to reflect the potential takeovers, how very clever and insightful of them. well worth their high salary.I think 140-150p would be a more realistic price to be taken out, but that is my opinion and others with a short term agenda may differ.Time will tell.
JohnyCash
18 May 2015
888 raises the stakes for bwin battle 888 raises stakes for bwin.party battle by making offerJohn AglionbyThe stakes to acquire bwin.party rose on Monday after 888 Holdings announced it had followed GVC Holdings in submitting a proposal to buy the entire online gambling company.The news helped bwin.party’s share price to jump 5.6 per cent to 105p in early London trading. It climbed 11.24 per cent on Friday following the GVC announcement. 888, a Gibraltar-based gambling company which UK bookmaker William Hill failed to buy in February, said it believed there was “significant industrial logic” in the two companies combining and had submitted a bid comprising cash and 888 shares. It gave no details of its proposal but said shareholders holding 59 per cent of the outstanding share capital of the company — which focuses on casino, poker and bingo — had “irrevocably committed, subject to customary conditions, to vote in favour of the proposed transaction”. On Friday GVC, which is listed on Aim and concentrates on unregulated markets, said its offer for bwin.party, which also included few details, was effectively a reverse takeover due to the size of the two companies and that it would need the approval of GVC shareholders.Bwin.party was formed in 2011 from the merger of Bwin and PartyGaming. It has a market capitalisation of about £860m, three times that of GVC, which is based in the Isle of Man.Bwin.party has repeated on several occasions since last November that it is in preliminary talks with “a number of interested parties regarding a variety of potential business combinations”.Other parties that have been linked with bwin.party are UK bookmaker William Hill and Canadian gambling company Amaya Gaming.In March, Philip Yea, bwin.party’s non-executive chairman, said the company was testing the potential buyers “against each other and against business as usual”.He declined to say when a decision might be made, saying the “processes take whatever time they take”.Bwin.party’s core earnings fell for the third successive year in 2014, although the 6 per cent drop was in line with analysts’ expectations. The company expects revenues to be flat this year because there is no football World Cup and a new point of consumption tax in the UK.Brian Mattingley, 888’s chief executive, said last month the industry was set for further mergers. “We will either be consolidated or we will be part of the consolidation,” he said.William Hill’s bid for 888 was blocked after the latter’s co-founder Avi Shaked held out for a higher offer.[link]
elfanddwarf
18 May 2015
Re: Strong rise You may be right sold only a fraction of the shares but felt the need to bank some gains just in case.
Nice to Michu
17 May 2015
Re: Sunday Times says 888 looking at bid... Hopefully you're right. ST headline leads me to think the revised GVC offer was £1bn ish which is around 120p.. 888 gate-crashing and moving as quickly as Sunday Times suggests leads me to think that 120p might have been close to being accepted by management. As they seem a complimentary fit with BWIN I'm thinking they won't need to go much higher. Hopefully this 888 involvement will flush out other bidders also.. maybe Ladbrokes.
sage in the hills
17 May 2015
Re: Sunday Times says 888 looking at bidding If its worth having, it should be a LOT higher than 120pSAGE
Nice to Michu
17 May 2015
Sunday Times says 888 looking at bidding for BWIN this coming week. This alongside other already known interest. I expect this may well get taken over soon. And with bidding competition I'm thinking 120p+ will be achieved.Happy to have a nice position in BWIN and I expect it to tick nicely further up next week, starting first thing tomorrow!
bankmuppet
15 May 2015
Re: Strong rise I thought long and hard about that Elf but have decided to go all in so to speak! Hope I don't get bit on the proverbial as I have so often with this one.
elfanddwarf
15 May 2015
Re: Strong rise Well 99.95 was high enough for me to sell a slice of my shares taking some profits whilst they are available
Tjuringa
15 May 2015
Report on Offer [link]
bankmuppet
15 May 2015
Update From BWIN Under news tab above.GVC has a market cap of £250m!!Media speculation Further to the increase in the Company's share price earlier today and speculation in the media, the Board of bwin.party reconfirms that it is continuing its discussions with a number of third parties and has received revised proposals (including from GVC Holdings PLC) regarding a variety of possible business combinations. There can be no guarantee that these discussions will result in any transaction being completed and a further update will be given in due course
bankmuppet
15 May 2015
Re: Strong rise Better be higher than £10 as that would be a disgrace.
