GVC Holdings and Ladbrokes Coral Group are in “detailed discussions” about an offer for Ladbrokes Coral which would tie its value to the outcome of a government review of stakes and prizes of fixed-odds betting terminals (FOBTs).
The “non-binding proposal” would value the London-based bookmaker at up to £3.9bn, the two boards of directors said today.
Ladbrokes Coral shareholders would be offered £3.1bn in cash and GVC shares, plus a “contingent value right” (CVR) that would bring the value of the deal up to £3.9bn, the boards said.
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