
Ladbrokes in merger talks with Gala Coral Group
Bookmaker Ladbrokes has stated it remains in talks with the board of Gala Coral Group over a possible merger.
A deal would create the yohaig code UK's greatest bookie with nearly 4,000 High Street shops.

The discussions issue combining Ladbrokes with Coral Retail, Eurobet Retail and Gala Coral's online companies.

Ladbrokes stated there was no certainty that the talks would lead to a deal, and possible terms and timings were likewise yet to be concurred.

Shares in Ladbrokes rose more than 11% after the announcement.

"A merger with Gala Coral could produce a combined organization with significant scale and has the potential to generate significant expense synergies, producing value for both business' investors," primary executive Jim Mullen stated.

If the deal proceeds, it would see the yohaig code merged group overtake William Hill as the greatest UK bookie, bringing together around 2,100 stores from Ladbrokes and 1,845 from Coral.
The merger talks do not include Gala's 132-strong bingo company.
Mr Mullen added that the firm's board has yet to decide whether a deal would be "strategically attractive" and whether it might be "delivered to shareholders on appropriate terms."
The firm stated that the deal, if finished, could be classified as a reverse takeover of Ladbrokes.
Ladbrokes previously attempted to buy Coral in 1998, but its planned takeover was blocked by the government.

the yohaig code then Trade and Industry Secretary Peter Mandelson stated a merger would result in "a weakening of rate competitors at the nationwide level" and a decrease in consumer choice.
Earlier this year, Ladbrokes reported a big fall in pre-tax profit for 2014, from ₤ 68m to ₤ 38m, and said that it anticipated to close 60 UK shops this promotion code year.
Those strategies would be untouched by any handle Coral Group.
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Gala Coral Group