Ladbrokes in Talks with 888
According to iGamingBusiness, Ladbrokes, the UK's second-largest bookmaker, is in talks to buy the online poker and casino group 888 Holdings in a deal that could potentially be worth £470 million.
Executives of the betting shop group flew to Israel over the weekend to discuss a takeover deal with 888 founders and controlling shareholders Avi and Aharon Shaked. The Shaked brothers together control 51% of the company after floating it on the London stock exchange last year and each selling shares worth £52m.
The discussions are believed to have been brokered by 888's outgoing chief executive, John Anderson, who is also a former Ladbrokes director. Ladbrokes issued a statement yesterday confirming it was “in the early stages of reviewing a possible transaction involving 888. No decision has been made.” Reports over the weekend suggested 888 could fetch as much as £470m.
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Executives of the betting shop group flew to Israel over the weekend to discuss a takeover deal with 888 founders and controlling shareholders Avi and Aharon Shaked. The Shaked brothers together control 51% of the company after floating it on the London stock exchange last year and each selling shares worth £52m.
The discussions are believed to have been brokered by 888's outgoing chief executive, John Anderson, who is also a former Ladbrokes director. Ladbrokes issued a statement yesterday confirming it was “in the early stages of reviewing a possible transaction involving 888. No decision has been made.” Reports over the weekend suggested 888 could fetch as much as £470m.
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