Reuters - Gambling Firm Betfair Rejects CVC-led Takeover Bid

Online gambling company Betfair has rejected a $1.4 billion takeover offer from private equity firm CVC Capital Partners and other investors, writes Reuters. Betfair said it had received a preliminary proposal on Friday from CVC, Richard Koch, Antony Ball and partners offering 880 pence per share in cash or an unlisted securities alternative made up of shares and loan notes in a new entity, writes Reuters.

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