RSS for Comments

RSS for Entries

Ladbrokes Plans Sportingbet Takeover

Ladbrokes CEO Richard Glynn’s ‘Project Galvanise’ continues to gather pace as the UK based bookmakers Sportingbet announced that they have received an offer from the gambling giant.

While it was stressed that this approach isn’t a formal offer, Ladbrokes’ powers of persuasion are expected to be too much for Sportingbet, meaning that a deal could be made sooner rather than later. Sportingbet recently acquired Centrebet and were looking to expand further, but a large offer from Ladbrokes may be too much to resist.

Reports suggest that Ladbrokes were prepared to offer 70p a share in order to take control of the company. News of this approach has sent Sportingbet shares soaring with an 11% increase overnight to leave them at 47p.

Sportingbet were careful not to give too much away in a press release today. It concluded that: “There can be no certainty that any offer will be forthcoming or as to the terms of any such offer.”

Similar Posts:

Share
This entry was posted on Tuesday, June 21st, 2011 and is filed under Gambling Articles. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
«
»

Leave a Reply