CVC's $1.4B proposal is too low for Betfair

04/23/2013 | Reuters

Betting exchange operator Betfair turned down the $1.4 billion acquisition offer by CVC Capital Partners, saying the offer was too low and came with too many conditions. "CVC's opening gambit, while not a knockout bid, is not too far away from a valuation that would cause management and investors cause for serious consideration," Peel Hunt analyst Nick Batram said.

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