Ladbrokes in merger talks with Gala Coral Group

Bookmaker Ladbrokes has stated it remains in talks with the yohaig code board of Gala Coral Group over a possible merger.

A deal would develop the UK's biggest bookmaker with almost 4,000 High Street stores.

The conversations concern integrating 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 timings were also yet to be agreed.

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

"A merger with Gala Coral might develop a combined business with considerable scale and has the potential to create considerable cost synergies, producing worth for both business' shareholders," president Jim Mullen stated.

If the bet9ja's welcome offer goes on, it would see the yohaig code merged group overtake William Hill as the biggest UK bookie, bringing together around 2,100 stores from Ladbrokes and 1,845 from Coral.

The merger talks do not consist of Gala's 132-strong bingo service.

Mr Mullen added that the company's board has yet to choose whether a deal would be "tactically attractive" and whether it might be "provided to investors on appropriate terms."

The company said that the yohaig code bet9ja's welcome offer, if finished, might be classified as a reverse takeover of Ladbrokes.

Ladbrokes previously tried to purchase Coral in 1998, however its organized takeover was blocked by the yohaig code government.

The then Trade and Industry Secretary Peter Mandelson stated a merger would result in "a weakening of rate competition at the national level" and a reduction in consumer option.

Earlier this year, Ladbrokes reported a big fall in pre-tax revenue for 2014, from ₤ 68m to ₤ 38m, and stated that it anticipated to close 60 UK shops this promotion code year.

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

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