GVC Shareholders vote in favour of Ladbrokes Coral Merger
FTSE 250-listed sports betting and gaming company GVC Holdings PLC said today it has received near unanimous approval for its merger with sister firm Ladbrokes Coral PLC at its extraordinary general meeting.
Now the merger remains conditional on sanctioning of the scheme by the court, which is scheduled to give its verdict on March 26. If the scheme is sanctioned, it will become effective on March 28, will Ladbrokes Coral’s shares cancelled on the admission of new GVC shares on March 29.
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.