International edition
September 24, 2020

Sportingbet is no longer in an offer period

Sportingbet and Ladbrokes agreed to terminate discussions

(UK).- Sportingbet announced last 23 June that the company was in discussions regarding a possible offer for the company with Ladbrokes. Now, the company informed that those discussions have been mutually terminated.

T

he 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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