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

Ladbrokes in merger talks with Gala Coral Group

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

A deal would develop the yohaig code UK's most significant bookmaker with almost 4,000 High .
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The discussions concern integrating Ladbrokes with Coral Retail, Eurobet Retail and Gala Coral's online firms.
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Ladbrokes stated there was no certainty that the talks would result in a deal, and possible terms and timings were also yet to be agreed.

Shares in Ladbrokes rose more than 11% after the yohaig code statement.
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"A merger with Gala Coral could develop a combined business with considerable scale and has the prospective to create considerable expense synergies, producing value for both companies' shareholders," president Jim Mullen said.
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If the deal goes on, it would see the merged group overtake William Hill as the biggest UK bookmaker, uniting around 2,100 shops from Ladbrokes and 1,845 from Coral.
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The merger talks do not include Gala's 132-strong bingo service.
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Mr Mullen added that the firm's board has yet to decide whether a deal would be "strategically appealing" and whether it might be "delivered to shareholders on proper terms."

The firm stated that the bet9ja's welcome offer, if completed, might be categorized as a reverse takeover of Ladbrokes.
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Ladbrokes formerly attempted to buy Coral in 1998, but its scheduled takeover was obstructed by the yohaig code federal government.
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the yohaig code then Trade and Industry Secretary Peter Mandelson stated a merger would result in "a weakening of price competitors at the nationwide level" and a decrease in consumer choice.
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Earlier this promotion code year, Ladbrokes reported a large fall in pre-tax revenue for 2014, from ₤ 68m to ₤ 38m, and stated that it expected to close 60 UK stores this year.
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Those strategies would be unaffected by any deal with Coral Group.

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