Firm made an offer of USD 3.47B
GVC's attemp to takeover Ladbrokes Coral fails
According to local media, the negotiation ended due to disputes over the value of Ladbrokes Coral. The two companies also held discussions about a possible deal last year.
2017-08-23
Reading time 31 seg
According to local media, the negotiation ended due to disputes over the value of Ladbrokes Coral. The two companies also held discussions about a possible deal last year.
GVC is focused on online gaming and sports betting and owns the Foxy Bingo brand. A deal for Ladbrokes Coral would have marked a departure for GVC into betting shops because the bookmaker has about 3,600 sites.
GVC was also prepared to increase the value of the deal by approximately 50 pence a share to about 3.6 billion pounds if the results of an ongoing UK government review into gambling were favorable for the industry, the sources also said.
The talks and potential terms were first reported by the Financial Times and come after speculation that GVC had revived its interest in Ladbrokes Coral.
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