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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has stated it is in talks with the board of Gala Coral Group over a possible merger.
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A deal would create the UK's biggest bookie with almost 4,000 High Street stores.
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The discussions issue integrating Ladbrokes with Coral Retail, Eurobet Retail and Gala Coral's online firms.

Ladbrokes said there was no certainty that the talks would result in an offer, and possible terms and timings were likewise yet to be agreed.

Shares in Ladbrokes rose more than 11% after the statement.

"A merger with Gala Coral might produce a combined company with substantial scale and has the prospective to produce substantial expense synergies, producing worth for both business' investors," president Jim Mullen stated.
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If the deal goes ahead, it would see the merged group overtake William Hill as the biggest UK bookie, combining around 2,100 shops from Ladbrokes and 1,845 from Coral.
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The merger talks do not consist of Gala's 132-strong bingo business.

Mr Mullen added that the company's board has yet to decide whether a deal would be "strategically attractive" and whether it could be "delivered to investors on suitable terms."

The firm said that the bet9ja's welcome offer, if completed, could be categorized as a reverse takeover of Ladbrokes.

Ladbrokes formerly attempted to purchase Coral in 1998, but its organized takeover was blocked by the federal government.

The then Trade and Industry Secretary Peter Mandelson said a merger would result in "a weakening of price competitors at the national level" and a decrease in customer choice.

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

Those strategies would be untouched by any handle Coral Group.

Job loss fears at Ladbrokes Ireland

21 April 2015

Gala Coral Group
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