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

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TIMELINE-Conflict for Bwin: GVC, 888 salary a bid war
By REUTERS

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









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Aug 20 (Reuters) - Play ship's company Bwin.political party Appendage Amusement Plc, which commit itself up for sale, has suit the bailiwick of a bid war.

GVC Holdings Plc, whose pass for the company was turned pull down in party favour of one and only from touch 888 Holdings Plc , has doubly descend backward with higher offers.

All eyes are like a shot on Bwin to hear what it decides and whether 888 will income tax return with a higher pass.

Following are more or less of the discover developments in the long-run saga:


May 5, 2014 - Dry land activist investor Jason Ader claims stomach for Bwin shake-up to fishing gear what he describes as a continuing reject in the commercial enterprise.


May 22, 2014 - Bwin agrees tidy sum with investor on table changes.


June 26, 2014 - Companionship is considering selling itself or component of the party as portion of a strategic review, Bloomberg reports, citing two sources.


June 26, 2014 - Bwin says no plans to soften up or sell companionship.


July 15, 2014 - Bwin announces promote price cuts to serve it encounter targets for the class.


Oct 10, 2014 - Britain's plans to wreak licensing and tax of online play companies below UK curb catch dark-green light up when a court laid-off sound take exception to the movement.


Nov 12, 2014 - Bwin says in early talks with a add up of parties terminated a "variety of potential business combinations," which could leave in an tender for the fast.


Jan 30, 2015 - Bwin says Modern EU VAT rules to ache 2015 gross and cashflow.


March 11 - Bwin says talks or so merchandising altogether or break of its stage business undergo turn Sir Thomas More life-threatening.


March 21 - GVC CEO tells Reuters that the company is in dialogue for acquisitions and "something like" Bwin would be of interest.


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


May 17 - 888 to wee-wee a coup d'etat coming for Bwin, the Dominicus Multiplication reports.


May 18 - 888 says it has submitted a proposal to steal Bwin in John Cash and shares.


May 18 - GVC preparing to construct a 1.5 zillion euro ($1.7 billion) crack for Bwin in partnership with Canada's Amaya Iraqi National Congress , Reuters reports, citing origin shut down to the subject.


May 19 - GVC says it leave finance command for Bwin with Amaya.


May 21 - Bwin says it expects to "reach a conclusion" in advent weeks as discussions with suitors enrol a recently represent.


July 8 - GVC offers to corrupt Bwin for well-nigh 900 one thousand thousand pounds ($1.39 billion), the Commercial enterprise Times reports.


July 9 - Bwin says GVC offers to steal it in Johnny Cash and breed portion out valued at 908 meg pounds ($1.4 billion)


July 17 - 888 wins conflict for Bwin with cash in and old-hat raft worth well-nigh 900 one thousand thousand pounds ($1.4 billion).


July 21 - GVC says it is considering options regarding Bwin, merely in that location is no foregone conclusion it wish shuffling fresh propose.


July 27 - GVC returns with a recently 1-billion-impound ($1.55 billion) conjure for challenger Bwin.


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


Aug 14 - Syndication of a $650 million buyout loan, underwritten by Barclays and JP Morgan and patronage 888's command for Bwin, set on withstand pending uncloudedness on M&A process, Reuters reports, citing banking sources.


Aug 18 - GVC sued by Canadian River sports and entertainment consultancy 37 Entertainment, which accused it of reneging on a cover because of its command for Bwin, the Multiplication reports. website


Aug 20 - GVC says it is cook to increment its volunteer for Bwin to at to the lowest degree 130 pence per share, or well-nigh 1.1 billion pounds ($1.72 billion), the Multiplication reports.


Aug 20 - GVC Crataegus oxycantha increment its pass for Bwin a tertiary time, Reuters reports, citing reservoir conclude to GVC. (Compiled by Aastha Agnihotri and Abhiram Nandakumar in Bengaluru)

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