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CVC to bid on Betfair Exchange

CVC to bid on Betfair Exchange

Betfair might be the possible target of a strategic takeover from CVC Capital Partners, the same company that owns Formula One motor racing. The company was talking with investors about joining forces and making an offer to Betfair. The bidders haven't made any contact with Betfair or its board members and haven't reached an agreement yet on the price to offer. CVC has a history of buying and selling gambling companies, like they did with William Hill back in 1999.

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