Labrokes Coral in £3.9bn takeover talks with Foxy Bingo owner

Tie-up with GVC would create online-led gambling group with large portfolio of businesses worldwide

Ladbrokes Coral is in “detailed” talks over a takeover by online gambling rival and Foxy Bingo owner GVC in a deal worth up to £3.9bn.

GVC, which also owns Sportingbet and PartyCasino, has tabled a cash-and-shares approach valuing Ladbrokes at 160.9p a share, with loan notes on top worth an extra 42.8p a share.

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from Mergers and acquisitions | The Guardian http://ift.tt/2B9q4nx