Deals

GVC in Talks to Buy Ladbrokes Coral for Up to $5.2 Billion

Combination could spur consolidation in gambling business
Gambling operators seek scale as betting shifts online

A customer reads newspaper betting information inside a branch of Ladbrokes Plc bookmakers, in London, U.K., on Friday, July 24, 2015. Ladbrokes Plc agreed to buy Coral Group in a share-exchange deal to create the U.K.'s biggest betting-shop chain and fight back against a tide of online competition.
Photographer: Chris Ratcliffe/Bloomberg

Provide news feedback or report an error

Confidential tip?

Send a tip to our reporters

Site feedback:

Take our Survey

By Eric Pfanner

December 7, 2017 at 7:31 AM UTC

Updated on

December 7, 2017 at 9:38 AM UTC

This article is for subscribers only.

GVC Holdings Plc is in advanced talks to acquire U.K. bookmaker Ladbrokes Coral Group Plc for as much as 3.9 billion pounds ($5.2 billion), as gambling companies seek greater scale in a business that’s shifting online.

GVC is offering 160.90 pence a share in cash and stock, plus a contingent value right worth as much as 42.80 pence a share, the companies said in a statement Thursday. That would represent a premium of 50 percent to Wednesday’s closing price for Ladbrokes.