Tag: cvc
Betfair and CVC terminate takeover talks
Full statement here – https://www.betangel.com/forum/viewtopic.php?f=35&t=2623&start=266
Looks like I was right to sell into the market. It will be interesting to see what price the shares open at this morning. Highlights of the statement: –
Following the announcement of the trading and strategy update, the Board received a revised proposal from the Co-offerors (the “Revised Proposal”) on the evening of Friday, 10 May 2013. The Revised Proposal valued each Betfair share at 920 pence per share in cash. On the morning …
City awaits CVC Betfair bid, or not
CVC, the private equity group that was revealed as in talks with Betfair about a possible bid, has until 5pm today to put in a bid or walk away.
The city is talking up a bid of £10, or somewhere near that, to get discussions really going. Betfair shares have responded in kind to this potential. But it’s really a case of how much risk CVC wants to take.
At certain prices Betfair would be a slam dunk investment. I …
Betfair reject £900m takeover offer
Betfair came out this morning and rejected an offer by CVC of 880p per share. With 103m shares in issue, that values Betfair at roughly £900m. Betfair shares closed at 800p on Friday so expect another jump up today.
Mark Davis had some interesting reflections on the offer on his blog. His comments are always worth a look as he is a big shareholder and obviously an insider on the whole Betfair thing. He has often given insight to …
Private equity firm seeks Betfair buyout
Last last night SKY news broke a story about CVC approaching Betfair: –
https://news.sky.com/story/1077839/exclusive-cvc-mulls-750m-gamble-on-betfair
I think this would make a good target for a firm like CVC, but whether they can pull it off is another thing; they would require the buy in of all major shareholders. The rationale for a private equity buyout would probably be along the following lines. Betfair is cash rich and a private equity firm would probably use that cash as part of the buy …
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