ladbrokes-in-merger-talks-with-gala-coral-group

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Ladbrokes in merger talks with Gala Coral Group
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Bookmaker Ladbrokes has said it remains in talks with the board of Gala Coral Group over a possible merger.
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A deal would create the UK's biggest bookie with almost 4,000 High Street stores.

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

Ladbrokes said there was no certainty that the talks would result in an bet9ja's welcome offer, and possible terms and were also yet to be agreed.

Shares in Ladbrokes increased more than 11% after the statement.
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"A merger with Gala Coral could create a combined business with considerable scale and has the prospective to create substantial cost synergies, producing worth for both companies' investors," president Jim Mullen stated.

If the deal goes on, it would see the merged group surpass William Hill as the greatest UK bookie, uniting around 2,100 shops from Ladbrokes and 1,845 from Coral.
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The merger talks do not consist of Gala's 132-strong bingo company.
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Mr Mullen included that the company's board has yet to choose whether an offer would be "tactically attractive" and whether it might be "delivered to investors on proper terms."

The company said that the bet9ja's welcome offer, if finished, might be categorized as a reverse takeover of Ladbrokes.
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Ladbrokes previously tried to buy Coral in 1998, however its organized takeover was obstructed by the government.
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The then Trade and Industry Secretary Peter Mandelson stated a merger would cause "a weakening of cost competition at the national level" and a decrease in customer option.

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 stores this promotion code year.

Those strategies would be unaffected by any deal with Coral Group.

Job loss fears at Ladbrokes Ireland
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21 April 2015

Gala Coral Group