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

An offer would the UK's most significant bookmaker with almost 4,000 High Street shops.

The discussions issue combining 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 an bet9ja's welcome offer, and possible terms and timings were likewise yet to be concurred.
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Shares in Ladbrokes rose more than 11% after the announcement.

"A merger with Gala Coral might produce a combined business with significant scale and has the potential to create significant cost synergies, creating value for both business' shareholders," president Jim Mullen said.

If the offer goes ahead, it would see the merged group surpass William Hill as the greatest UK bookmaker, uniting around 2,100 shops from Ladbrokes and 1,845 from Coral.

The merger talks do not include Gala's 132-strong bingo service.
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Mr Mullen included that the company's board has yet to choose whether an offer would be "strategically appealing" and whether it might be "delivered to investors on suitable terms."

the yohaig code company said that the offer, if finished, could be categorized as a reverse takeover of Ladbrokes.

Ladbrokes formerly tried to buy Coral in 1998, but its planned takeover was blocked by the government.

The then Trade and Industry Secretary Peter Mandelson stated a merger would cause "a weakening of price competitors at the nationwide level" and a reduction in consumer option.

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

Those plans would be untouched by any handle Coral Group.
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Job loss fears at Ladbrokes Ireland
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21 April 2015

Gala Coral Group
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