GVC gambles on Ladbrokes Coral takeover

Gambling organisation Ladbrokes Coral is in talks over a takeover by online rival GVC, who own the Bwin and Sportingbet brands in a deal that could value the group at up to £3.9bn.

Under the proposals, GVC would hold 53.5% of the combined group.

Ladbrokes Coral became the UK’s biggest high street bookmaker following last year’s merger of Ladbrokes and Coral.

The maximum price GVC will pay will depend on the outcome of the government’s review of gaming machines. The Department of Culture, Media and Sport has said it will cap the size of stakes gamblers can make on fixed-odds betting terminals, due to concerns they may harm vulnerable people.

GVC and Ladbrokes Coral said that the review could impact on the profitability of Ladbrokes Coral’s UK business.

Ladbrokes Coral shares increased to 23% on news of the talks, while GVC’s were up by 4%.

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If you are considering a company merger, acquisition, takeover or joint venture or are in the midst of a shareholder dispute or share capital transaction or need business advice please contact our business takeover solicitors.

Call 0161 624 6811 to speak to John Porter and Soibi Iketubosin in our Company/Commercial Department or email jap@wrigleyclaydon.com or si@wrigleyclaydon.com.

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John Porter

John has been with Wrigley Claydon for over 20 years, becoming a partner in 1995. Specialising in Employment Law, John helps clients with matters including the preparation of recruitment policies and employment contracts as well as advocating in employment tribunals in cases of unfair dismissal or discrimination. He also has considerable experience of dealing with landlord and tenant disputes and matters relating to business and company sales, commercial investment property transactions and lettings as well as residential estate and offshore property developments. “I know I’ve done a good job when the business doesn’t need me!” John is never happier than when spending time with his wife and 2 children, Lucy and Alex. John is Chair of Respect Our Community Awards (ROCA) and a board member of First Choice Homes Oldham. In his spare time, John is likely to be found either reading, cooking or walking Donnie the Golden Retriever.