888 Holdings in new bid for bwin.party

Coinciding with the end of the British August bank holiday, 888 Holdings issued a new statement Tuesday on a revised bid for Bwin-Party, which Bwin has confirmed it has received and is studying, along with the latest offer from GVC Holdings (see previous report).

For now, Bwin says that its directors’ unanimous recommendation of the 17 July 888 offer of GBP 898.3 million in cash-and-paper offer still stands, but that it is to consult with key shareholders on the new bids.

Details of the new 888 Holdings bid, which is subject to unspecified and reversible pre-conditions, have not been disclosed.

The Telegraph newspaper says that GVC is understood to have made its latest bid on Friday evening.