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William Hill and GVC agree to terms for US$851 mil. Sportingbet takeover

Reuters
October 17, 2012, 12:05 am TWN

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LONDON--William Hill, Britain's largest bookmaker, and partner GVC Holdings have agreed the terms of a raised 530-million-pound (US$851 million) takeover of online gaming firm Sportingbet, Sportingbet said on Tuesday.

William Hill makes most of its money in Britain but is expanding overseas and plans to take on Sportingbet's operations in Australia and Spain. Smaller GVC would take on the company's operations in unregulated markets.

The cash and shares deal would be worth 61.1 pence per share of Sportingbet, up from a previous 52.5 pence.

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