Gambling Holding GVC can absorb a newfound company Ladbrokes Coral, formed by the two bookmakers’ merger only at the beginning of the year.
According to the Financial Times, the potential deal sum could reach 3.2 billion pounds (just over $ 4 billion). Ladbrokes and Coral merger came out this sum as well. GVC current offer terms are similar to those put forward by the purchasing Bwin.party. The holding acquired the company for 1.1 billion pounds mainly due to its shares last year.
Due to the news of a possible GVC and Ladbrokes Coral merger, the shares of the last one rose by 5.7%. As for the trading volume, it increased almost twice compared to the average daily figure. As for GVC, the value of one holding share increased by 0.9% to 635 pence.
None of the companies have provided comments on the merger rumors yet. However, some market players have kept up to report a potential deal failure.
Ladbrokes and Coral agreed to fulfill the local regulator requirements and announced the successful transaction completion in July 2015.