Labrokes Coral in £3.9bn takeover talks with Foxy Bingo owner

Ladbrokes Coral

The two groups said in a joint statement on Thursday they were in detailed talks over a deal that would give Ladbrokes shareholders around 46.5 percent of the combined group.

Shares in Ladbrokes jumped almost 30% on the news during early trading in London. However, the final price that GVC is prepared to pay for Ladbrokes Coral depends on the outcome of a review of Fixed-Odds Betting Terminals.

Gambling giant Ladbrokes Coral could be taken over by bookmaker GVC Holding in a deal worth £3.9bn.

Ladbrokes completed its £2.3bn merger with Coral in November previous year, but it is understood GVC first approached Ladbrokes over a tie-up when it was finalising the deal.

GVC, which boasts 79 million registered accounts and operates in 21 languages through names such as sportingbet and partypoker, previously bought bwin.party in 2016.

Both companies believe that the group would be geographically diversified with a large portfolio of businesses across both regulated and developing markets.

The companies had previously held talks about a deal earlier this year but they broke down without agreement.

Should GVC go ahead with the offer, Ladbrokes Coral shareholders would receive 32.7p in cash and 0.141 ordinary GVC shares for each share, as well as a potential further value of up to 42.8p structured as a contingent value right. Analysts and executives had expected the government review to spark a new round of consolidation in an industry that has been marked by near constant dealmaking.

The review is part of a government crackdown on FOTBs after MPs raised concerns the machines were too addictive and fuelled problem gambling.

It announced last month that the maximum stake would be cut from £100 to between £2 and £50. There could also be synergies from the deal, while the Board of GVC also believes that the transaction would be double digit EPS accretive from the first full year post-completion.

He highlighted that Playtech may see some potential impact on one of its most important licensees, with its stake in Ladbrokes Coral worth close to 80p per share. GVC closed at 909 pence, valuing it at 2.77 billion pounds.

Related News:

  • August Ames dies dead at 23 - How did porn star die?

    August Ames dies dead at 23 - How did porn star die?

    Health Care Agency confirmed Wednesday that Ames death was caused by asphyxia due to hanging. He also requested for privacy during this hard time.
    Washington Capitals vs. Chicago Blackhawks - 12/6/17 NHL Pick, Odds, and Prediction

    Washington Capitals vs. Chicago Blackhawks - 12/6/17 NHL Pick, Odds, and Prediction

    Brett Connolly , middle at right, celebrates his second-period power-play goal with Capitals teammates Wednesday night. Chicago's leading scorer Patrick Kane (27 points) has gone two straight games without a point.
    Stokes fails to fire again for Canterbury

    Stokes fails to fire again for Canterbury

    It remains to be seen if Stokes and Hales are allowed to participate in what could be a gruelling series for the visitors. Whether it's any more of a circus than it's already been, it's hard to say. "I can't see any changes there personally".
  • Ryan Reynolds is Detective Pikachu

    Ryan Reynolds is Detective Pikachu

    The film is being distributed by Universal, but a North American release date has not yet been announced . There are even some weird mashups that have been floating around for years that are especially prescient.

    PUBG's desert map is called Miramar, full details revealed

    The crates will be up for grabs for whoever gets to them first, and they'll be filled with all sorts of goodies. Microsoft has announced that the first of three exclusive DLC packs for the game is about to go on sale.
    Skilled Nursing Spending Growth Slowed in 2016

    Skilled Nursing Spending Growth Slowed in 2016

    Spending on retail prescription drugs grew 1.3 percent in 2016 compared with 12.4 percent in 2014 and 8.9 percent in 2015. Still, health spending continues to outpace overall spending on goods and services, which increased 2.8 percent in 2016.
  • Deadline for Aadhar Card linking

    Deadline for Aadhar Card linking

    The Central government has previously made Aadhaar card mandatory for carrying out nearly all the legal tasks in the country. Aadhaar card can be linked, with the customers' mobile banking to the bank accounts.
    Final Bill On Same Sex Marriage Imminent

    Final Bill On Same Sex Marriage Imminent

    The government has appointed a panel to examine how to safeguard religious freedoms once gay marriage was a reality in Australia . The House of Representatives is widely expected to vote to allow same-sex marriage across the nation.
    Breast Cancer: Birth Control May Increase Risk By Up To 38 Percent

    Breast Cancer: Birth Control May Increase Risk By Up To 38 Percent

    They include smoking, obesity, starting menstruation early, having children late in life or not at all and not breastfeeding. That roughly translates to a 12 percent lifetime risk for a woman, although many factors affect breast cancer risk.
  • Stipe Miocic vs. Francis Ngannou Set For UFC 220 on January  20

    Stipe Miocic vs. Francis Ngannou Set For UFC 220 on January 20

    The only time both undisputed titles were on the line on the same night was at UFC 44 in September 2003. The person spoke on the condition of anonymity because the UFC had yet to make its plans public.
    Twins get players from Mariners, Angels for global  bonus money

    Twins get players from Mariners, Angels for global bonus money

    A delegation from the Mariners met with Ohtani on Tuesday in Los Angeles at the offices of Creative Artists Agency. The Angels , who last week picked up $1.21 million in a trade with the Braves , are up to $2.315 million.
    Tosun hoping Besiktas get Bayern Munich in Champions League

    Tosun hoping Besiktas get Bayern Munich in Champions League

    It was a busy night of European football as a host of teams played their final Champions League group stage fixture. The Round of 16 draw will take place on Monday 11 December at 9pm AEST at Uefa's headquarters in Nyon, Switzerland.


Most liked

Google Removes Chrome Apps From Web Store, Shifting To Progressive Web Apps
This is the companion extension for the Chrome Remote Desktop website (https://remotedesktop. google .com). People who use Chrome just for web surfing will be able to download extensions and themes.

Cryptocurrency marketplace NiceHash reveals security breach
The digital currency's value has soared in recent weeks, crossing $14,000 for the first time on Thursday morning in Asia. "Our payment system was compromised and the contents of the NiceHash Bitcoin wallet have been stolen".

"Shazam!" Casts "IT" Movie's Jack Dylan Grazer
Sandberg is directing from a script by Darren Lemke ( Jack the Giant Slayer ) and Henry Gayden ( Earth to Echo ). Freddy is Billy Batson's best friend and the only person who knows the truth about Shazam .

Walgreens Boots Alliance (WBA) CMF Pushes Into Positive Territory
The sales growth rate for a stock is a measure of how the stock's sales per share (SPS) has grown over a specific period of time. The pharmacy operator reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.10.

Newborn dies 7 days after mistakenly declared dead by Delhi hospital
While we understand that survival in extreme preterm births is rare, it is always painful for the parents and family. November 30, Ashish Kumar's wife gave birth to premature twins (boy and girl) at Max hospital in Shalimar Bagh.

Indian drone "invaded" our airspace, then crashed: Chinese media
According to Zakharova, the Russian and Chinese foreign ministers will also have a bilateral meeting on the sidelines of the event.

Rangers to pay around £1 million to land Derek McInnes and assistant
McInnes is under contract until 2020 after signing a new deal along with No2 Tony Docherty in the summer as they rejected a move to Sunderland.

The Skirball Fire in LA Is Burning Down Rupert Murdoch's House
The Skirball Fire alone has already burned more than 150 acres, with winds gusting to more than 50 miles per hour. Murdoch lives in the 7,500-square-foot house with his wife Jerry Hall .

Trending Stocks in Review: AT&T, Inc. (T), Alibaba Group Holding Limited (BABA)
Sandler Capital Management decreased Spdr Series Trust (XBI) stake by 111,200 shares to 48,800 valued at $3.77 million in 2017Q2. The stock witnessed -7.78% declines, 0.49% gains and 34.48% gains for the 1-month, 3-month and 6-month period, respectively.

Romarinho strike sends Al Jazira through
Auckland City defender Angel Berlanga wants the Navy Blues to put everything on the line against the UAE side. Romarinho, linking well with Ali Mabkhout, converted Al Jazira's first shot of the night in lethal fashion.

Airline Crew Says They Saw North Korean Test Missile Re-Enter Atmosphere
He also compared two other photos that seem to have been mirror images of the launch but the constellations were different. Langbroek determined the direction of the photo based on the shape of the plumes of smoke coming from the rocket engine.

The Rock To Receive Star On The Hollywood Walk Of Fame
Johnson responded by tweeting a heartfelt and grateful message, and then he (jokingly?) added that he'd be providing tequila. This past year he starred in Bay Watch , The Fate of the Furious , and Jumanji: Welcome to the Jungle alongside Kevin Hart .

Big Update On Ronda Rousey's WWE Future
She was subdued and mostly absent from promotion leading up to the Nunes fight and has largely shunned the spotlight since. The level of intrigue with Rousey has actually increased since she started losing.

Delhi govt to follow court orders on odd-even exemptions
A Bench headed by NGT chairperson Swatanter Kumar said that the expenses will be borne by the authorities in a 70:30 ratio. Chaning its stand on the odd-even policy, the government in its action plan does not mention any exemption for women.

Analyst Ideas For Two Stocks: Morgan Stanley (MS), PPG Industries, Inc. (PPG)
Following the transaction, the president now directly owns 692,037 shares of the company's stock, valued at $35,010,151.83. Analysts are also projecting an Average Revenue Estimate for Morgan Stanley as $9.28 Million in the Current Quarter.