1 Ladbrokes in Merger Talks with Gala Coral Group
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Ladbrokes in merger talks with Gala Coral Group
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Bookmaker Ladbrokes has stated it is in talks with the board of Gala Coral Group over a possible merger.

An bet9ja's welcome offer would produce the UK's greatest bookie with almost 4,000 High Street stores.
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The conversations concern integrating Ladbrokes with Coral Retail, Eurobet Retail and Gala Coral's online companies.

Ladbrokes stated there was no certainty that the yohaig code talks would cause a deal, and possible terms and timings were also yet to be agreed.

Shares in Ladbrokes rose more than 11% after the yohaig code announcement.

"A merger with Gala Coral might develop a combined business with considerable scale and has the potential to generate considerable cost synergies, producing value for both companies' shareholders," primary executive 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 stores from Ladbrokes and 1,845 from Coral.

The merger talks do not consist of Gala's 132-strong bingo service.

Mr Mullen added that the firm's board has yet to decide whether a deal would be "strategically attractive" and whether it might be "delivered to shareholders on proper terms."
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The firm said that the deal, if completed, might be categorized as a reverse takeover of Ladbrokes.

Ladbrokes formerly to purchase Coral in 1998, however its scheduled takeover was obstructed by the federal government.
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The then Trade and Industry Secretary Peter Mandelson stated a merger would lead to "a weakening of cost competition at the yohaig code nationwide level" and a decrease in customer option.

Earlier this year, Ladbrokes reported a big fall in pre-tax earnings for 2014, from ₤ 68m to ₤ 38m, and said that it anticipated to close 60 UK shops this promotion code year.

Those strategies would be untouched by any handle Coral Group.

Job loss fears at Ladbrokes Ireland
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21 April 2015

Gala Coral Group