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Despite a slightly richer offer from GVC and Amaya, 888 Holdings of Gibraltar has pulled ahead in a deal to purchase Bwin.party (including PartyPoker) for US$1.4 billion (£898.3m).

Bwin.party shareholders will receive 39.45p cash and 0.404 new shares in 888 for each Bwin.party share they now own. GVC, with financial backing from Amaya had offered a purchase price of US$1.4 billion (£908 million) in cash and stock. That would have delivered shoreholders US$1.71 (110p) per share.

Bwin.party shareholders will now own 48.9 per cent of 888 Holdings.

The move will see 888 incr…