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(Reuters) – Online gambling firm 888 said it would buy peer Bwin.party Digital Entertainment in a cash and stock deal valued at about 898 million pounds ($1.40 billion).

The offer of 104.09 pence per share is at a 1.2 percent premium to Bwin.party’s close on Thursday and consists of 39.45 pence in cash and 0.404 new 888 shares for each Bwin.party share.

Bwin.Party, which has been at the center of a takeover battle, said earlier this month that GVC Holdings Plc had offered to buy it in a cash and stock deal valued at 908 million pounds ($1.4 billion).

(Reporting By Mamidipudi Soumithri in Bengaluru; Editing by Anupama Dwivedi)

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