SPECULATION THAT GVC HOLDINGS IS ABOUT TO TAKE A RUN AT LADBROKES-CORAL.
Financial Times report boosts Ladbrokes-Coral shares 5 percent.
A report in Friday's Financial Times that another significant online gambling merger is being planned sent Ladbrokes-Coral share prices up 5 percent as speculation mounted that GVC Holdings, which only a year ago acquired Bwin.Party in a GBP 1.1 billion reverse takeover, is planning a similar move on Ladbrokes-Coral, itself only recently merged.
The Times report said the GVC offer would likely involve a 30 percent premium, valuing it at around GBP 3.2 billion
GVC and Ladbrokes-Coral have thus far not commented on the reports.
Our readers will recall that recently Ladbrokes-Coral was reportedly contemplating a GBP 2 billion acquisition bid for the Australian gambling group Tabcorp, which is in the throes of negotiating a merger with rival Tatts.