William Hill, GVC Holdings sweeten bid for Sportingbet

British bookmaker William Hill Plc and GVC Holdings Plc on Tuesday significantly increased their offer for rival online sportsbook and casino company Sportingbet Plc.

The $853.9 million offer for Sportingbet comes less than a month after their original $564.9 million proposal was rejected, GVC Holdings said in a statement.

Upon completion, William Hill, owner of William Hill U.S. and 159 sports books and kiosks in Nevada, would own Sportingbet’s regulated Australian business, while GVC Holdings would take over the rest of the company’s business.

“The revised proposal includes a ‘mix and match’ facility under which Sportingbet shareholders will have to opportunity to receive proportionately more cash and more shares,” GVC Holdings said.

William Hill and GVC Holdings now have until Nov. 13 to reach a deal, which is a two-week extension of their original deadline.