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%.
Business takeover solicitors
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 785 3573 to speak to John Porter and Soibi Iketubosin in our Company/Commercial Department or email email@example.com or firstname.lastname@example.org.
Latest posts by John Porter (see all)
- 5 Steps to consider before buying or leasing commercial property - 13th September 2023
- Changes to Employment Law April 2020 - 5th April 2020
- Toys R Us on brink of administration - 8th January 2018
- Talk over sale of Newcastle Utd as owner Ashley meets investment firm - 22nd December 2017
- GVC gambles on Ladbrokes Coral takeover - 15th December 2017