Monday September 19,2011 : October 17 deadline not far off
On June 23, 2011, the UK internet gambling group Sportingbet plc received an approach regarding a possible offer for the company from Ladbrokes plc and since then discussions between the two parties have been taking place.
This week the duo announced to the stock exchange that they were still in discussions, and that a further announcement would be made in due course.
The suspense and speculation should soon be laid to rest; exchange rules require that Ladbrokes, by not later than 5.00 p.m. on 17 October 2011, must either announce a firm intention to make an offer for Sportingbet according to Rule 2.7 of the Code or announce that it does not plan to make an offer, in which case the announcement would be treated as a statement to which Rule 2.8 of the Code applies.
This deadline can, however, be extended with the formal consent of the exchange.