Ladbrokes in merger talks with Gala Coral Group

Bookmaker Ladbrokes has stated it remains in talks with the yohaig code board of Gala Coral Group over a possible merger.

An bet9ja's welcome offer would develop the yohaig code UK's greatest bookie with almost 4,000 High Street stores.

The conversations issue integrating Ladbrokes with Coral Retail, Eurobet Retail and Gala Coral's online firms.
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Ladbrokes said there was no certainty that the talks would cause a deal, and possible terms and timings were likewise yet to be agreed.
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Shares in Ladbrokes increased more than 11% after the yohaig code announcement.

"A merger with Gala Coral could create a combined company with considerable scale and has the prospective to create considerable expense synergies, creating value for both companies' shareholders," primary executive Jim Mullen said.

If the bet9ja's welcome offer proceeds, it would see the merged group overtake William Hill as the greatest UK bookie, combining around 2,100 stores from Ladbrokes and 1,845 from Coral.
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The merger talks do not consist of Gala's 132 organization.
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Mr Mullen added that the firm's board has yet to decide whether a deal would be "tactically attractive" and whether it could be "provided to shareholders on suitable terms."

the yohaig code firm stated that the deal, if finished, might be classified as a reverse takeover of Ladbrokes.

Ladbrokes formerly attempted to buy Coral in 1998, however its organized takeover was blocked by the federal government.
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The then Trade and Industry Secretary Peter Mandelson stated a merger would cause "a weakening of cost competitors at the nationwide level" and a decrease in customer choice.
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Earlier this promotion code year, Ladbrokes reported a big fall in pre-tax profit for 2014, from ₤ 68m to ₤ 38m, and said that it anticipated to close 60 UK stores this promotion code year.

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

Job loss fears at Ladbrokes Ireland

21 April 2015

Gala Coral Group
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