Sportingbet says William Hill-GVC offer undervalues business Mon Oct 1, 2012 6:32am EDT (Reuters) - Online gaming company Sportingbet Plc received an indicative offer from Britain's biggest bookmaker William Hill Plc and GVC Holdings Plc for about 350 million pounds ($565 million) but said it "significantly undervalued the business." The offer of 52.5 pence per Sportingbet share comprises 45 pence in cash from William Hill and 7.5 pence in shares in GVC, and represented a 2 percent premium to Sportingbet stock's closing price on Friday. Reporting by Brenton Cordeiro in Bangalore