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888 Agrees $1.4 Billion Takeover of Bwin.party to Thwart GVC

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888 Holdings Plc agreed to buy Bwin.party Digital Entertainment Plc for 898.3 million-pounds ($1.4 billion) in cash and shares, winning over the online gaming company that’s been at the center of a takeover battle.

The agreement thwarts the plans of rival suitor GVC Holdings Plc, even though 888’s offer values Gibraltar-based Bwin.party at less than the price GVC had said it was considering paying. Bwin.party said only last week that it was working with GVC to secure a 906.5 million-pound bid.