Ladbrokes Coral in talks over takeover by GVC

Bookmaker Ladbrokes Coral has revealed it is in “detailed” talks over a potential takeover by online rival GVC valuing it at up to £3.9bn.

GVC, whose brands include Sportingbet and Foxy Bingo, would pay cash and shares under the deal which would see Ladbrokes Coral shareholders own 46.5% of the combined group.

It is the latest move in a wave of mergers and takeovers in the gaming and betting industry and comes just a year after Ladbrokes and Gala Coral completed a tie-up to form Ladbrokes Coral.

GVC has also bulked up with a takeover of bwin.party, owner of sites such as Party Poker.

A statement on the latest potential deal said the companies were “in detailed discussions regarding the possible combination of the two businesses”.

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It said the companies believed there was a “compelling strategic rationale” for the deal that would create an “online-led globally positioned betting and gaming business”.

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