Betfair has terminated takeover discussions with CVC Capital Partners after the private equity firm said it would not make a revised offer for the online gambling company, it said in a statement on Tuesday.
_0">Betfair said it received a 950 pence per share offer in cash and shares valuing the company at 988 million pound ($1.52 billion) on 12 May which it rejected that evening, but indicated it would consider an improved proposal.
CVC had been given an extra 24 hours to commit a firm bid after a Monday deadline lapsed.
Betfair stock, which was trading at 700 pence before CVC said on April 15 it was considering a bid, closed on Monday at 895 pence.