Online gambling operator GVC Holdings, teaming up with Amaya Gaming, has offered £900m ($1.4b) in cash and shares to purchase rival operator bwin.party.

According to the Financial Times, GVC’s offer values bwin.party’s shares at around 110p per share.

bwin shares rose 0.4% to 100.6p on Tuesday, giving the company a market cap of £823m.

A GVC spokesman refused to comment on the value of its bid, saying that the company is still engaged in discussions with bwin and will provide a further update for shareholders as and when appropriate.