GVC rumoured to have prepared reverse takeover for Ladbrokes - report
GVC [LON:GVC], the Isle of Man-based online gaming group, is said to have been planning a potential takeover of rival betting group Ladbrokes Coral [LON:LCL], the Financial Times reported. Rumours suggested GVC’s advisers were drawing up plans for a reverse takeover deal which could be worth approximately GBP 3.2bn (USD 4.0bn), equivalent to an around 30% premium, the report said.
Sources familiar with the UK betting sector said talks between the two sides may have collapsed, however, the item reported.
GVC has a GBP 1.9bn market capitalisation, the report noted.