Bwin says announcement marks final decision after protracted bidding process, with takeover likely to lead to job cuts

FoxyBingo owner bwin.party has jilted suitor 888 Holdings in favour of a £1.1bn cash-and-shares offer from Sportingbet owner GVC after a protracted takeover wrangle.

888 appeared to have won the battle earlier this year, despite the higher valuation offered by its rival, when bwin agreed to its proposal. But GVC doggedly pursued its goal, ironing out potential snags in its offer.

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Source: The Guardian Circular Economy RSS