Thursday November 19,2015 :  LADBROKES RESPONDS TO SHAREHOLDER CONCERNS (Update)

Reiterates support for merger.

In response to billionaire shareholder Dermot Desmond’s public disapproval of the merger between Ladbrokes and Coral Group , Ladbrokes reiterated its recommendation that shareholders deliver a favourable vote.

The Board of Ladbrokes laid out a “compelling strategic rationale and benefits” of the proposed merger which include:

–    The potential to deliver faster online growth
–    The creation of the UK's largest LBO estate
–    The creation of an extensive international portfolio of regulated businesses
–    The delivery of significant cost synergies underpinning shareholder returns
–     ability to operate across an enhanced and integrated technology platform

“The Board remains confident that shareholders will see the attraction of the proposed merger and continues to work towards a successful conclusion to the proposed transaction,” a company statement reads.