Punters gambling on a takeover of Betfair were given some hope after a put-up-or-shut-up deadline imposed on private equity firm CVC was extended for a day – at Betfair's request.

Bid target Betfair disappointed investors hoping for a quick cash payout, as the online gaming house set out its defence against CVC.

Outlook Betfair's Breon Corcoran produced the best possible response to the private-equity sharks circling the company he runs. The betting exchange operator issued a trading statement that surprised on the upside, a welcome change for those investors who bought in when it floated at £13 a share.

Betfair oday dismissed a £910 million takeover bid from a consortium led by CVC Capital Partners, but the City continued to assume that the gambling group is now effectively “in play” following the offer.

His first Festival as a jumps trainer could hardly have left John Ferguson better versed in the extremes of his new calling. He arrived at Cheltenham with a strike rate that reflected the high standards – both in the quality of horses, and their preparation – he had introduced from his continued service as bloodstock manager to Sheikh Mohammed. But he came away only with bittersweet satisfaction: in one of the novice hurdles, Cotton Mill had still been going great guns when running out at the second last; while New Year's Eve ran a blinder in the bumper, only to bump into a Willie Mullins special.

A look ahead to tonight’s Europa League fixture at the Metalist Stadium

Racehorses will never give you an answer when they can come up with a new question instead.

Ladbrokes has snapped up Irish betting exchange Betdaq for €30m (£25m) to boost its online business.

Cheltenham on the cards as Irish novice hurdler shows raw courage to match a fancy pedigree

Lavelle's smart novice chaser can enhance Festival credentials against Warwick rivals

Outlook Breon Corcoran today waved a white flag that Betfair ought to have hoisted a long time ago.

Betfair's chief executive, Breon Corcoran, will outline a strategy of cost cutting on Thursday, following his recent decision to withdraw from Germany and not to enter Greece.

Danish keeper understands difficulty for homosexual footballers to come out