William Hill and GVC get more time for Sportingbet bid

City A.M. Reporter
William Hill and GVC Holdings have been given more time to make a formal offer for Sportingbet, with the deadline extended to 4 December.

Following a £530m takeover approach, the UK Takeover Panel has extended the deadline from this afternoon to allow discussions to continue between Sportingbet, William Hill and joint bidder GVC Holdings.

William Hill and smaller partner GVC Holdings won provisional backing from the Sportingbet board last month for a cash and share approach valuing Sportingbet at 61.1 pence per share.