CVC holds Betfair takeover talks
CVC could launch a takeover of Betfair.
CVC could launch a takeover of Betfair.
Betfair's share price rocketed today (April 15th) after it was confirmed CVC has held preliminary talks over a takeover of the company.
A statement from CVC confirmed Richard Koch, Antony Ball and partners have held discussions over a potential bid for Betfair.
Stocks in the company rose in value by more than ten per cent on the back of the news and at 16:00 BST they were recorded at 770.50, a rise of 71 points on the start of the day.
The statement from CVC stressed that its interest in Betfair should not be taken as "an announcement of a firm intention to make an offer".
It was added: "There can be no certainty that an offer will be made, nor as to the terms on which any offer will be made."
Betfair was the biggest riser on the FTSE 100 today as a result of the news of a potential takeover of the firm by CVC.
Other big movers on the index today include GlaxoSmithKline, which rose in value by almost four per cent, while easyJet was up by 3.4 per cent.
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