Online betting firm Sportingbet edged higher after William Hill and GVC Holdings were granted an extension to their offer deadline until December 4th this year.
The two companies had previously been told that they were required to either announce a firm intention to make an offer for Sportingbet or announce they do not intend to make an offer by November 13th.
Sportingbet previously rejected an indicative joint offer from sector peers William Hill and GVC Holdings for 52.5p per share.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The company said at the time that the offer - comprising of 45p in cash from William Hill and 7.5p in shares in GVC - was not high enough.
Following this, GVC was granted a temporary suspension of trading after the agreement of a revised and increased possible offer on October 16th.
Sportingbet's shares climbed 0.99% to 51p by 13:00 on midday.
NR
-
Average earners now face £200,000 inheritance tax bill - how much will your estate owe?‘Double whammy’ of inheritance tax changes means even the estates of those earning the average UK wage could face bills, not just the very wealthy
-
Are the wealthy dodging more tax than previously thought?A new report suggests tax non-compliance among the wealthy could be worse than previously imagined. Is an overly complex system partly to blame?
