Sportingbet and Ladbrokes agreed to terminate discussions
The Boards of Sportingbet and Ladbrokes agreed to end discussions as the parties were unable to agree either a suitable structure or one that delivered sufficient value to shareholders in a meaningful timeframe.
The company can confirm it is not in discussions with any other party regarding a potential offer for the firm. Accordingly, the company is no longer in an offer period for the purposes of the City Code on Takeovers and Mergers.
Discussions are progressing with GVC Holdings regarding a possible disposal of the Group's Turkish language website. A further update on these discussions will be provided when appropriate.
Andrew McIver, Group Chief Executive, commented: “As stated in the company's final results announcement last week, the Board of Sportingbet remains focussed on its overall strategy of providing a first class sports betting product and of increasing its exposure to regulated markets. The Board remains highly confident of Sportingbet’s prospects as an independent company.”
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