Ian Bull, chief financial officer of Ladbrokes, has opted to sell his stake in the UK bookmaker ahead of its proposed merger with rival gambling operator Gala Coral. As reported by iGaming Business, Ladbrokes and Gala Coral last month stated they were closing in on a deal that will lead to the creation of a business worth approximately £2.3 billion (€3.4 billion/$3.6 billion).
Although the deal is yet to be finalised, global investment banking firm Jefferies last week warned of the potential challenges that the merger could create. Jefferies’ suggestion that Coral is “not a perfect fit” to help Ladbrokes boost its online sports betting business occurred before the share price dropped to 104.71 pence last Thursday.
Bull has now opted to follow suit by selling his 121,615 shares in Ladbrokes at a price of 105.88 pence each.
William Hill and Amaya Talk Reverse Takeover The UK’s William Hill and Canada’s Amaya are in discussions that could lead to a £4.6bn all share merger to create one of the world’s largest gambling companies, as the groups become swept up in the wave of consolidation hitting the betting industry.
On Saturday, the boards of the two […]
Gala Coral & Ladbrokes Merger Talks Ladbrokes and Gala Coral confirmed in separate statements late yesterday (Monday) evening that they are in talks over a possible merger.
The two parties said that the proposed deal would involve Ladbrokes and Gala Coral-operated Coral Retail, Eurobet Retail and the company’s online […]
Possible Merger Delays Ladbrokes Business Presentation Ladbrokes has opted to delay a planned business review presentation due to the ongoing talks over a possible merger with rival operator Gala Coral.
As reported by iGaming Business, both parties confirmed last week that they had begun discussions over the possibility of merging to form […]