UPDATE: Ladbrokes Shares To Be Cancelled Thursday As GVC Deal Closes (ALLISS)

LONDON (Alliance News) - Ladbrokes Coral Group PLC and GVC Holdings PLC said on Wednesday the ...

Alliance News 28 March, 2018 | 5:50PM
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LONDON (Alliance News) - Ladbrokes Coral Group PLC and GVC Holdings PLC said on Wednesday the scheme of arrangement has become effective, and Ladbrokes shares will be cancelled effective from the start of trade on Thursday.

Last week, the UK Competition & Markets Authority said it had cleared the merger of the two gambling firms.

In December, GVC agreed to acquire Ladbrokes Coral in a cash and stock deal worth at least GBP3.2 billion, where GVC shareholders will own 53.5% and Ladbrokes Coral 46.5% of the combined company.

Shares in GVC closed down 1.7% on Wednesday.

By Lucy Heming; lucyheming@alliancenews.com

Copyright 2018 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article
Security Name Price Change (%) Morningstar
Rating
Ladbrokes Coral Group PLC
GVC Holdings PLC 821.00 GBX 5.59 -
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