GVC proposes £3.9bn acquisition of Ladbrokes Coral

GVC proposes £3.9bn acquisition of Ladbrokes Coral”

Terms of the offer mean that Ladbrokes Coral shareholders would hold 46.5% of the combined business, with GVC shareholders to other 53.5%.

Bookmaker GVC Holdings has offered to buy Ladbrokes Coral for up to 3.9 billion pounds to create a betting giant able to cope with the tougher rules being imposed by the British government.

GVC has also bulked up with a takeover of, owner of sites such as Party Poker.

Shares in the 230-year-old Ladbrokes jumped 26 percent in early trading, while GVC shares rose 6 percent on confirmation of the long-rumoured offer, which is in cash and shares.

Ladbrokes Coral - which operates 3,500 shops across England, Wales and Scotland - would receive 32.7p in cash and 0.141 ordinary GVC shares for each Ladbrokes Coral share.

The final price will depend on the outcome of a government review into fixed-odds betting terminals (FOBTs).

Last year Paddy Power merged with its digital rival Betfair and Ladbrokes merged with Gala Coral.

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

In addition, the companies have agreed that should the deal go through, Kenneth Alexander, now chief executive of GVC, would take on the same role at the enlarged group.

Based on the share prices of the two companies at close of business on 6 December, the possible offer values Ladbrokes Coral at 160.9p per share, plus a CVR of up to 42.8p per share.

They added that the enlarged group would benefit from operating different brands across different markets including the UK, Italy and Australia. In October it started a 12-week consultation to consider cutting the stake to between 50 pounds and 2 pounds, from the current 100 pound wage.

GVC expects the deal to boost earnings from its first full year after completion, even if the Government decides on the biggest possible curbs on gaming machines.

"GVC's recent move to exit Turkey cleared the last barrier and LCL shareholders should be pleased to see the firm is now better insulated against the vagaries of the United Kingdom market", said Neil Wilson, senior market analyst at ETX Capital.

Like this


07 December 2017
Aina Gets Adkins As New Coach At Hull City
Hull have moved quickly to replace Slutsky, and for the club's supporters that is the most important thing. His first match as Hull boss will be Saturday's home game against Brentford.

07 December 2017
Senior North Korean diplomat meets United Nations political affairs chief
Secretary General Antonio Guterres had, on several occasions, expressed his willingness to broker talks between North Korea and the global community.

07 December 2017
Students gather at Oregon State Capitol for 'Defend the Dream' DACA rally
President Donald Trump said he plans to end the program in March, and asked Congress to come up with a solution before then. DACA provides renewable, temporary legal status to unauthorized immigrants who arrived in the USA before the age of 16.

07 December 2017
Body found positively identified as Mariah Woods
Smith told NewsChannel reporter Nate Belt that on her first day of donations alone, she gathered about $1,000 worth of food. Kristy Woods said she last saw her daughter when she put her to bed on the night of 26 November, KSAT reported.

07 December 2017
Hackers Execute $62 Million NiceHash Cryptocurrency Market Heist As Bitcoin Passes $13000
After a 12-hour service outage for 'maintenance, ' Nicehash just announced that last night it fell victim to a security breach. NiceHash would only go so far as to state that it is "working to verify the precise number of BTC taken".

07 December 2017
Snow squall warning continues for Almaguin, West Nipissing
Marie to south of Wawa, with snow squalls occasionally reaching Highway 129 between Ranger Lake and Chapleau. Visibility will be suddenly reduced to near zero at times in heavy snow and blowing snow.

07 December 2017
Air New Zealand cancels flights due to Rolls-Royce engine issues
The investigation into that incident recommended that Rolls-Royce review the design of the intermediate pressure turbines. The country's national carrier said the engines on the 787-9 fleet require maintenance "sooner than previously advised".

07 December 2017
Anthony Davis (adductor) remains out for Pelicans on Wednesday night
Gary Harris had a team-high 24 points for the Nuggets, but only six points came after intermission. When asked about Davis' status, coach Alvin Gentry replied, "I would say that he's out".

07 December 2017
Priyanka Chopra dethrones Deepika Padukone to become the Sexiest Asian Woman 2017
Voted the sexiest Asian woman for the fifth time, she just had to thank her parents for passing on the '"sexiest" genes. The actor has topped the list of 50 Sexiest Asian Women, a poll conducted by London-based weekly Eastern Eye .

07 December 2017
"Shazam!" Casts "IT" Movie's Jack Dylan Grazer
Grazer will play Batson's best friend and confidant Freddy Freeman, the only person who knows Billy's superhero secret. Levi is playing the Captain Marvel version of Billy, and Angel is playing the non-Captain Marvel Billy.