ladbrokes-in-merger-talks-with-gala-coral-group

bet9ja.com
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 create the UK's greatest bookmaker with almost 4,000 High Street shops.
bit.ly
The conversations concern integrating Ladbrokes with Coral Retail, Eurobet Retail and Gala Coral's online firms.
bit.ly
Ladbrokes stated there was no certainty that the talks would lead to an offer, and possible terms and timings were likewise yet to be concurred.

Shares in Ladbrokes increased more than 11% after the yohaig code announcement.
bet9ja.com
"A merger with Gala Coral could develop a combined business with significant scale and has the prospective to produce substantial expense synergies, creating worth for both business' shareholders," chief executive Jim Mullen stated.
bet9ja.com
If the deal goes on, it would see the merged group overtake William Hill as the most significant UK bookmaker, combining around 2,100 shops from Ladbrokes and 1,845 from Coral.
bet9ja.com
The merger talks do not include Gala's 132-strong bingo company.
bet9ja.com
Mr Mullen included that the company's board has yet to decide whether a deal would be "tactically appealing" and whether it could be "provided to investors on suitable terms."
bet9ja.com
The company stated that the bet9ja's welcome offer, if finished, could be categorized as a reverse takeover of Ladbrokes.
bit.ly
previously tried to purchase Coral in 1998, but its scheduled takeover was obstructed by the federal government.

The then Trade and Industry Secretary Peter Mandelson stated a merger would result in "a weakening of rate competitors at the nationwide level" and a reduction in customer choice.
bet9ja.com
Earlier this promotion code year, Ladbrokes reported a big fall in pre-tax earnings for 2014, from ₤ 68m to ₤ 38m, and stated that it anticipated to close 60 UK stores this promotion code year.

Those plans would be unaffected by any offer with Coral Group.

Job loss fears at Ladbrokes Ireland

21 April 2015

Gala Coral Group