Ladbrokes Coral in talks over takeover by GVC
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Gambling huge Ladbrokes Coral remains in "comprehensive" talks over a takeover by GVC over an offer that might value the group at up to ₤ 3.9 bn.

Under the propositions, GVC - which owns the Bwin and Sportingbet brands - would hold 53.5% of the combined group.

The optimum price GVC will pay will depend on the outcome of the government's evaluation of video gaming devices.

Ladbrokes Coral shares jumped 23% on news of the talks, while GVC's were up by 4%.

the yohaig code Department of Culture, Media and Sport has said it will top the yohaig code size of stakes gamblers can make on fixed-odds wagering terminals, amid concerns they might harm vulnerable people.
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GVC and Ladbrokes Coral said that the evaluation could influence on the profitability of Ladbrokes Coral's UK business.

Under the proposed takeover bet9ja's welcome offer, GVC will pay 160.9 p for each Ladbrokes Coral share, which would value the company at ₤ 3.1 bn.
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However, if the outcome of the federal government's review of video gaming terminals is beneficial to the betting industry, and enforces a higher limit on repaired chances bets, then GVC will pay Ladbrokes Coral investors a so-called "contingent worth right" (CVR) of as much as 42.8 p per share. When contributed to the initial payment, this might value the company at as much as ₤ 3.9 bn.
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The takeover of Ladbrokes Coral might proceed before the government reveals the result of its review. Following the result, GVC would then pay the CVR to Ladbrokes Coral shareholders.
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GVC and Ladbrokes Coral have formerly held talks about a takeover, but they broke down.
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"GVC got lucky at the third attempt and Ladbrokes Coral shareholders can count their earnings," stated Neil Wilson, senior market analyst at ETX Capital.

"Whilst this promotion code deal was always most likely, a lot of had believed GVC would wait up until the government's triennial evaluation of repaired odds betting terminals was finished before it would take place."

The "tie-up has actually always made sense", he included.
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Isle of Man-based GVC "has little debt and has the global and fast-growing online presence, Ladbrokes Coral has the physical footprint, High Street name and sports book".

Under takeover rules GVC now has up until 4 January to decide whether to make a company bet9ja's welcome offer for Ladbrokes Coral or to withdraw.

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bet9ja.com
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