UK Regulator CMA Examines GVC And Ladbrokes Coral Merger
The UK Competition and Markets Authority said on Wednesday it is currently considering whether the merger of betting companies GVC Holdings PLC and Ladbrokes Coral Group PLC will lead to a lessening of competition.The CMA has set a deadline of February 21 for comments, with a decision expected to be made on April 6.
In December, GVC agreed to acquire Ladbrokes Coral in a cash and stock deal worth GBP3.2 billion, where GVC shareholders will own 53.5% and Ladbrokes Coral 46.5% of the combined company.
The deal is expected to be completed late in the first quarter of 2018 or in the second quarter.
Shares in GVC Holdings were down 0.5% at 875.00 pence on Wednesday. Shares in Ladbrokes Coral were up 0.2% at 161.35 pence.