Ladbrokes Coral in talks over takeover by GVC

Ladbrokes Coral in talks over takeover by GVC

Should GVC go ahead with the offer, Ladbrokes Coral shareholders would receive 32.7p in cash and 0.141 ordinary GVC shares for each share, as well as a potential further value of up to 42.8p structured as a contingent value right.

The fast-growing online betting group GVC is back in talks with Ladbrokes Coral about a takeover worth up to £3.9 billion.

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

Shares in Ladbrokes soared 28% to 174.2p in early trading on Thursday, while GVC climbed 8% to 979p. On Thursday they said GVC had made a non-binding cash and shares offer to Ladbrokes, with the final price determined by the outcome of the government's review into gambling machines in United Kingdom betting shops, which could hit profits at the target company.

Both sides have agreed GVC's chief executive Kenneth Alexander would take charge of the combined group.

Lawmaker proposes during Australian same-sex marriage debate
Mr Abbott said he moved the amendment "out of respect for the millions of Australians who take religious freedom seriously". SAME-SEX marriage has become legal, with the bill to legalise gay marriage passing the House of Representatives today.

A joint statement said: "The enlarged group would be an online-led globally positioned betting and gaming business that would benefit from a multi-brand, multi-channel strategy applied across some of the strongest brands in the sector".

The transaction will also enhance the enlarged group's position in a number of the world's largest regulated iGaming markets including the UK, Italy and Australia, significantly increasing GVC's current share of revenues from locally regulated or taxed markets to more than 90 per cent.

The Department for Digital, Culture, Media and Sport said when it announced the consultation in October that it would cut the maximum stake on the machines, at present £100 every 20 seconds, but has yet to decide on the final level, saying that it would be somewhere between £2...

It is the latest move in a wave of mergers and takeovers in the gaming and betting industry and comes just a year after Ladbrokes (Amsterdam: LB6.AS - news) and Gala Coral completed a tie-up to form Ladbrokes Coral. Turkey had presented a roadblock in GVC's quest to buy Ladbrokes Coral since it is an unregulated market and vulnerable to sudden clampdowns.

"GVC got lucky at the third attempt and LCL shareholders can count their winnings", said analyst Neil Wilson at ETX Capital.

Related:

  • Toxic drinking water shocks 'pure' New Zealand

    Toxic drinking water shocks 'pure' New Zealand

    He said the issues were a a priority for the government and it was acting quickly. However the government hadn't yet decided if it would help.

    Self-styled prophet charged with kidnapping 2 girls

    The youngest of the four was later flown to Primary Children's Medical Center in Salt Lake City for further treatment. Their disappearance sparked a desperate search by Coltharp's ex-wife, and an Amber Alert followed.

    8 things to know about CHIP funding right now

    CHIP funding was last reauthorized in the Medicare Access and CHIP Reauthorization Act of 2015, and before that, through the ACA. Since then, the commission has requested an extra $90 million from the federal government to keep CHIP through February.
  • Porn Star August Ames Passes Away At the Age of 23

    Porn Star August Ames Passes Away At the Age of 23

    Producer Jules Jordan tweeted: "Rest In Peace to August Ames , one of the best, nicest people I ever knew in the business". Our hearts go out to August's friends and family during this extremely hard time.

    NVIDIA Corporation (NVDA) Position Boosted by Meiji Yasuda Asset Management Co Ltd.

    The highest price NVDA stock touched in the last 12 month was $218.67 and the lowest price it hit in the same period was $87.54. If we look at the Volatility of NVIDIA Corporation (NVDA ), Week Volatility is 6.44%, whereas Month Volatility is at 3.04%.
    CVS Health Corp (CVS) Shares Bought by Advisor Group Inc

    CVS Health Corp (CVS) Shares Bought by Advisor Group Inc

    Mirae Asset Limited holds 0.08% of its portfolio in CVS Health Corporation (NYSE:CVS) for 56,718 shares. 67,494 are held by S&Co. It is negative, as 84 investors sold CVS shares while 559 reduced holdings. 108 funds opened positions while 483 raised stakes.
  • Apple planning LCD iPhone with a metal case for 2018

    Apple planning LCD iPhone with a metal case for 2018

    In the previous month, KGI Securities analyst Ming-Chi Kuo had claimed that Apple would be releasing three iPhones in 2018 . Nikkei revealed that the low cost of iPhone would be due to usage of LCD display instead of OLED which is most expensive.

    Analyst Recommendations And Revisions: Hudson Pacific Properties, Inc. (HPP)

    Security Capital Research & Management Inc. increased its position in shares of Highwoods Properties by 4.8% in the third quarter. Goldman Sachs Group began coverage on shares of Hudson Pacific Properties in a research report on Tuesday, September 19th.
    Kano reception overwhelming - President Buhari

    Kano reception overwhelming - President Buhari

    Buhari pledged that prison reforms and decongestion would continue to receive prompt attention from his administration. The president also gave the inmates an undisclosed amount of money to transport themselves to their respective homes.
  • Rolls-Royce engine trouble forces Air New Zealand to ground flights

    Rolls-Royce engine trouble forces Air New Zealand to ground flights

    Rolls-Royce said in August that components on some Trent 1000 engines were wearing out earlier than expected, according to reports.
    LG V30 With FullVision Display To Launch in India On 13th December

    LG V30 With FullVision Display To Launch in India On 13th December

    The smartphone houses a 3300mAh battery with Qualcomm Quick Charge 3.0 and it also supports wireless charging. Last month, we came across a report tipping that the LG V30 could be launched in India sometime in December.
    Oakland A's plan to build new ballpark comes to a halt

    Oakland A's plan to build new ballpark comes to a halt

    Libby Schaaf, Oakland's mayor, remains optimistic about the A's future in the city and the team's ability to build a new ballpark. But the team had always faced an uphill battle in choosing the site at Laney.

Comments

Latest news

Google Removes Chrome Apps From Web Store, Shifting To Progressive Web Apps
Google's replacement for Chrome apps will come in the form of what it refers to as PWAs or progressive web apps. Additional enhancements to the Chrome apps platform will apply only to Chrome OS devices, including kiosks.

Deadline for Aadhar Card linking
Aadhaar is a 12 digit unique-identity number issued to all Indian residents based on their biometric and demographic data. Mobile sim cards still have time to link with Aadhaar, as the deadline for mobile sim linking is February 6, 2018.

Streaking Capitals host slumping Blackhawks
Ottawa lost its second straight game to start a season-high, seven-game road trip and has dropped nine of its last 10 contests. Chicago's leading scorer Patrick Kane (27 points) has gone two straight games without a point.

Hot Stocks Among Investors: Telefonica, SA (TEF), Johnson Controls International plc (JCI)
Johnson Controls International plc Ordinary Share (NYSE:JCI) last issued its quarterly earnings results on Thursday, November 9th. The Average Volume of the company is 5.04 Million, while the Volume of the company in the last trading session was 7.57 Billion.

David Cassidy cut his daughter, actress Katie Cassidy, from his will
The Blast revealed that Cassidy's will was created in 2004 by his personal representative and then-wife, Susan Cassidy. They had reconciled at some point before his death, but David revealed he wasn't present during her formative years.

Minnesota Timberwolves game preview: December 6 at Los Angeles Clippers
Danilo Gallinari returned for Los Angeles and scored seven points on 2-for-13 shooting. Minnesota led by as many as 19 in the third quarter.

FIFA lifts ban on Kuwaiti football
Infantino will be present at a press conference in the Jaber International Stadium soon to officially announce the end of the ban. If, as seems likely, the tournament is now given the green light it will be played between Qatar, Iraq, Oman, Kuwait and Yemen.

DC's 'Shazam!' Adds 'IT' Star Jack Dylan Grazer
Grazer will play Freddy, Batson's best friend and the only person who knows the truth about Billy/Shazam. He recently confirmed that the target release date for the film is April 2019.

Wenger rules out Sanchez, Ozil exits in January
The World Cup victor is out of contract next summer, and free to leave on a free transfer. It may be a wise move for all parties involved that Ozil stays put at the Emirates.

Walgreens Pumps $418 Million Into China's Top Pharmacy Chain
The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website . The pharmacy operator reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.10.

Chris Hogan returns to practice after missing four games
Because the Patriots are playing on Monday night, they will not be required to release an injury report until Thursday. Deatrich Wise, Kyle Van Noy , Malcolm Butler , and Marcus Cannon were also absent from Wednesday's session.

Cousins' 40/22 night leads Pelicans past Nuggets, 123-114
I think we'll see after practice how he feels, tomorrow how he feels, before we begin to make the decision on him playing or not". Whenever he's able to get back into the gym we want him around as much as possible. "It sucks it happened", Cousins said.

Nicehash Hacked: $62 Million In Bitcoin Stolen
Importantly, our payment system was compromised and the contents of the NiceHash Bitcoin wallet have been stolen. Clearly, this is a matter of deep concern and we are working hard to rectify the matter in the coming days.

Boko Haram: Army removes, replaces Commander
The development was confirmed on Wednesday by the Director of Army Public Relations, Brigadier General Sani Usman. It was reported in August 2017 that the Chief of Army Staff, Lt.

Manchester United transfer report
The Spaniard is inside the final year of his current deal, though United are expected to trigger a new 12 month extension. United are also interested in Lazio's Sergej Milinkovic-Savic, although he is believed to favour a move to Juventus.

Other news