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GVC Holdings Plc advanced to the final stage of negotiations for the purchase of the bookmaker Ladbrokes Coral Group Plc for 4 billion pounds (€ 4.5 billion).
GVC offers 160.90 pence for each share. Ladbrokes Coral, whose PPPs in UK urban centers are dying out, will attract more attention to the expanding digital gaming business, while GVC will be able to attract more potential customers for its online platforms. As a result, shares of Ladbrokes Coral on the London Stock Exchange jumped by 29%, and GVC – by 8.3%.
GVC Holdings must make an official offer to the other party no later than January 4, 2018. It is expected that the merger will allow companies to cut costs annually by £100 million ($133.6 million).
