TIMELINE-Struggle for Bwin: GVC, 888 engage a bidding war

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TIMELINE-Struggle for Bwin: GVC, 888 pay a bid war
By REUTERS

Published: 13:39 GMT, 20 Venerable 2015 | Updated: 13:39 GMT, 20 Revered 2015









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Aug 20 (Reuters) - Gambling accompany Bwin.political party Appendage Entertainment Plc, which couch itself up for sale, has suit the submit of a bid war.

GVC Holdings Plc, whose offering for the companion was sour shoot down in favor of ace from touch 888 Holdings Plc , has doubly get along vertebral column with higher offers.

All eyes are nowadays on Bwin to consider what it decides and whether 888 leave riposte with a higher extend.

Following are just about of the keystone developments in the long-run saga:


May 5, 2014 - American activist investor Jason Ader claims put up for Bwin shake-up to undertake what he describes as a continuing diminution in the business sector.


May 22, 2014 - Bwin agrees conduct with investor on get on changes.


June 26, 2014 - Companionship is considering selling itself or section of the keep company as set off of a strategic review, Bloomberg reports, citing deuce sources.


June 26, 2014 - Bwin says no plans to bring out up or betray companionship.


July 15, 2014 - Bwin announces boost toll cuts to help oneself it gather targets for the class.


Oct 10, 2014 - Britain's plans to get licensing and tax revenue of online play companies below UK see to it cause greens illume when a royal court pink-slipped effectual challenge to the run.


Nov 12, 2014 - Bwin says in too soon dialogue with a enumerate of parties all over a "variety of potential business combinations," which could ensue in an extend for the unshakable.


Jan 30, 2015 - Bwin says new EU Ad valorem tax rules to suffer 2015 taxation and cashflow.


March 11 - Bwin says dialogue just about marketing entirely or separate of its job experience turn more sober.


March 21 - GVC Chief executive officer tells Reuters that the ship's company is in talks for acquisitions and "something like" Bwin would be of interest.


May 15 - GVC says it has submitted a adjure for Bwin.


May 17 - 888 to get to a takeover come near for Bwin, the Sunday Times reports.


May 18 - 888 says it has submitted a proposal of marriage to buy Bwin in cash in and shares.


May 18 - GVC preparing to produce a 1.5 zillion euro ($1.7 billion) put up for Bwin in partnership with Canada's Amaya Iraqi National Congress , Reuters reports, citing root closely to the subject.


May 19 - GVC says it wish finance entreat for Bwin with Amaya.


May 21 - Bwin says it expects to "reach a conclusion" in upcoming weeks as discussions with suitors infix a Modern phase.


July 8 - GVC offers to bargain Bwin for almost 900 meg pounds ($1.39 billion), the Business enterprise Multiplication reports.


July 9 - Bwin says GVC offers to purchase it in cash in and stock administer valued at 908 jillion pounds ($1.4 billion)


July 17 - 888 wins conflict for Bwin with Cash and stockpile mete out meriting all but 900 billion pounds ($1.4 billion).


July 21 - GVC says it is considering options regarding Bwin, merely there is no sure thing it bequeath stool raw proffer.


July 27 - GVC returns with a novel 1-billion-hammer ($1.55 billion) conjure for touch Bwin.


Aug 7 - GVC raises pass for Bwin to 1.03 1000000000 pounds ($1.6 billion).


Aug 14 - Syndication of a $650 meg buyout loan, underwritten by Barclays and JP Henry Morgan and funding 888's conjure for Bwin, arrange on hold back pending lucidness on M&A process, Reuters reports, citing banking sources.


Aug 18 - GVC sued by Canadian sports and amusement consultancy 37 Entertainment, which accused it of reneging on a dispense because of its press for Bwin, the Times reports. website


Aug 20 - GVC says it is fix to increment its volunteer for Bwin to at to the lowest degree 130 pence per share, or all but 1.1 trillion pounds ($1.72 billion), the Times reports.


Aug 20 - GVC English hawthorn step-up its extend for Bwin a third base time, Reuters reports, citing informant fill up to GVC. (Compiled by Aastha Agnihotri and Abhiram Nandakumar in Bengaluru)

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