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CVC Capital Partners Considers Betfair Takeover Bid

CVC Capital Partners Considers Betfair Takeover Bid

The private equity group which operates Formula One racing is considering a takeover offer for Betfair. CVC Capital Partners, one of the largest buyout firms in the world, is in the early stages of considering a bid to take the betting exchange private.

CVC Capital Partners Considers Betfair Takeover Bid

The private equity group behind Formula One is reportedly considering a takeover bid for Betfair.

The group has yet to approach Betfair’s board and it is still to line up financing for a bid. Over the last few months Betfair’s share price has been rising as speculation has grown that it might be ready for a takeover.

However, some are worried that the company’s stock price already includes a takeover premium and if it rises much further it could end CVC’s interest. At the moment CVC is not giving any details, a company spokesman said “We never comment on market rumour or speculation.”

Much will depend on Betfair’s founders, Andrew Black and Edward Wray. They own around 20% of the company and a number of large technology investors also hold considerable stakes. It is not known if CVC has spoken to the founders, but it is thought that the takeover bid would get nowhere without their support. So far there has been no comment from Betfair.

OCA News Editor

Keeping up with the latest trends in entertainment, Matt Holden brings celeb news to the front page of OCA. Matt loves numbers games and researches the highest paying lottery draws to play.

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