UK Competition and Markets Authority looks into Ladbrokes and GVC merger
In December, GVC Holdings entered into an agreement to acquire Ladbrokes Coral in cash and stock worth GBP3.2 billion —equivalent to approximately USD 4.4 B. Under such deal, GVC shareholders will own 53.5% and Ladbrokes Coral 46.5% of the combined company.
The merger is expected to be completed late in the first quarter of 2018 or in the second quarter.
The UK Competition and Markets Authority (CMA) said on Wednesday it is currently considering whether the merger of betting companies GVC Holdings PLC and Ladbrokes Coral Group PLC will lead to a lessening of competition, so it has set a deadline of February 21 for comments, with a decision expected to be made on April 6.
Shares in GVC Holdings were down 0.5% at 875.00 pence on Wednesday. Shares in Ladbrokes Coral were up 0.2% at 161.35 pence.
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