share price rises after 888 Holdings takeover bid

Joe Hall
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888 has entered into negotiations to buy (Source: Getty)

Shares in soared over six per cent in early trading after rival 888 Holdings confirmed it had submitted a bid for all of's share capital.

Read more: 888 pays out as strong results give investors special dividend

By contrast, 888's share price fell over five per cent, with investors seemingly not sold on its plans.

888 said it believes there is "significant industrial logic in a combination of 888 and" and signalled shareholder approval had been secured for the bid to rival approaches from Aim-listed GVC Holdings for

In a statement said:

The board of has noted the announcement made by 888 Holdings and confirms that it has received a proposal to acquire the entire issued and to be issued share capital of

The board and its advisers are conducting a detailed review of the proposals received to-date and will make a further announcement in due course, however there can be no certainty that these proposals will result in a transaction being completed.

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