Ladbrokes Coral in talks over takeover by GVC
bet9ja.com
Gambling huge Ladbrokes Coral remains in "detailed" talks over a takeover by online rival GVC over an offer that might value the yohaig code group at up to ₤ 3.9 bn.

Under the yohaig code propositions, GVC - which owns the Bwin and Sportingbet brands - would hold 53.5% of the yohaig code combined group.
bit.ly
The maximum cost GVC will pay will depend on the result of the government's review of video gaming machines.

Ladbrokes Coral shares jumped 23% on news of the talks, while GVC's were up by 4%.

the yohaig code Department of Culture, Media and Sport has stated it will top the size of stakes bettors can make on fixed-odds betting terminals, amidst issues they might hurt vulnerable people.
bit.ly
GVC and Ladbrokes Coral stated that the review might influence on the yohaig code success of Ladbrokes Coral's UK organization.

Under the proposed takeover offer, GVC will pay 160.9 p for each Ladbrokes Coral share, which would value the company at ₤ 3.1 bn.
bit.ly
However, if the outcome of the government's evaluation of gaming terminals is beneficial to the yohaig code gaming industry, and enforces a higher limit on fixed chances bets, then GVC will pay Ladbrokes Coral investors a so-called "contingent worth right" (CVR) of as much as 42.8 p per share. When included to the initial payment, this promotion code could value the at as much as ₤ 3.9 bn.
bit.ly
The takeover of Ladbrokes Coral could go ahead before the government announces the result of its review. Following the result, GVC would then pay the CVR to Ladbrokes Coral investors.
bet9ja.com
GVC and Ladbrokes Coral have previously held speak about a takeover, however they broke down.

"GVC got lucky at the 3rd attempt and Ladbrokes Coral shareholders can count their earnings," said Neil Wilson, senior market expert at ETX Capital.

"Whilst this deal was constantly likely, a lot of had thought GVC would wait up until the government's triennial evaluation of fixed chances wagering terminals was finished before it would occur."

The "tie-up has actually constantly made sense", he included.
bet9ja.com
Isle of Man-based GVC "has little debt and has the worldwide and fast-growing online presence, Ladbrokes Coral has the physical footprint, High Street name and sports book".
bet9ja.com
Under takeover guidelines GVC now has up until 4 January to decide whether to make a company bet9ja's welcome offer for Ladbrokes Coral or to withdraw.
bet9ja.com
Government to examine wagering devices
bit.ly
24 October 2016

Paddy Power urges wagering device choice