Dec 7, 2017
Ladbrokes and GVC announce ‘detailed’ merger talks
Bookmaker Ladbrokes Coral is in merger talks with gambling group GVC, months after similar discussions broke down over the summer for the second time. In a joint statement, Ladbrokes said that it had received a proposal from GVC that would give the bookmaker a total equity value of up to £3.9bn. The two sides have agreed that Kenneth Alexander of GVC would be the CEO of the combined group. The Boards believe that a transaction has the potential to create material shareholder value and that there is a compelling strategic rationale for the Possible Offer. The enlarged group would be an online-led globally positioned betting and gaming business that would benefit from a multi-brand, multi-channel strategy applied across some of the strongest brands in the sector. The enlarged group would be geographically diversified with a large portfolio of businesses across both regulated and developing markets, with the scale and resources to address the dynamics of a rapidly changing global industry.
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