Ladbrokes in Merger Talks with Gala Coral Group > 자유게시판

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Ladbrokes in merger talks with Gala Coral Group

Bookmaker Ladbrokes has stated it is in talks with the board of Gala Coral Group over a possible merger.

A deal would produce the UK's biggest bookmaker with nearly 4,000 High Street shops.

The conversations concern combining Ladbrokes with Coral Retail, Eurobet Retail and Gala Coral's online firms.

Ladbrokes stated there was no certainty that the talks would result in an offer, and possible terms and timings were also yet to be agreed.

Shares in Ladbrokes increased more than 11% after the announcement.

"A merger with Gala Coral could create a combined business with substantial scale and has the prospective to produce significant cost synergies, producing worth for both business' shareholders," primary executive Jim Mullen said.

If the deal goes on, it would see the merged group surpass William Hill as the yohaig code most significant UK bookie, bringing together around 2,100 shops from Ladbrokes and 1,845 from Coral.

The merger talks do not include Gala's 132 organization.

Mr Mullen included that the firm's board has yet to decide whether a deal would be "tactically attractive" and whether it could be "provided to shareholders on proper terms."

The company said that the bet9ja's welcome offer, if completed, might be categorized as a reverse takeover of Ladbrokes.

Ladbrokes formerly tried to buy Coral in 1998, however its organized takeover was obstructed by the federal government.

The then Trade and Industry Secretary Peter Mandelson said a merger would result in "a weakening of cost competition at the nationwide level" and a decrease in consumer option.

Earlier this promotion code year, Ladbrokes reported a big fall in pre-tax earnings for 2014, from ₤ 68m to ₤ 38m, and stated that it expected to close 60 UK stores this promotion code year.

Those strategies would be unaffected by any bet9ja's welcome offer with Coral Group.

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21 April 2015

Gala Coral Group