Paddy Power and Stars Group held merger talks
Power Betfair and Stars Group held talks over a GBP8.4 billion merger, the Sunday Times reported.$10bn (€8.7bn).
The two companies held merger talks “late last year”, the UK’s ‘Sunday Times’ reported, without saying where it got the information.
A tie-up between the companies would create a betting giant worth more than GBP8.4 billion. That would dwarf rivals GVC and William Hill. Any deal would “almost certainly” face lawmakers’ scrutiny, the ‘Sunday Times’ said.
The industry has already seen substantial merger activity in recent years, with GVC making a string of purchases.