GVC may up ante to £1.1bn is the party over at Bwin?

The Bwin board will meet tomorrow to consider the increased offer
The Bwin board will meet tomorrow to consider the increased offer
CHARLES PLATIAU/REUTERS

GVC Holdings is prepared to increase its offer for Bwin.party to at least 130p a share — or nearly £1.1 billion — in a final push to secure a takeover of its online gambling rival.

The Times understands that the Sportingbet owner, whose present cash-and-shares offer is worth 124p, is ready to raise the stakes for a second time to ensure that it defeats 888 Holdings, its rival in the auction.

As things stand, 888 remained in pole position last night because of the Bwin board’s recommendation for its cash-and-paper offer, worth 104¾p at last night’s closing price.

However, the Bwin board is scheduled to meet tomorrow to decide whether to switch its recommendation to GVC’s sweetened offer. If it does decide to do so,