Ladbrokes and Sportingbet Terminate Takeover TalksUK Bookies With Big Poker Presence End Merger Negotiations |
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Ladbrokes and Sportingbet, the UK bookmakers who had been having exploratory talks on a potential merger, have mutually agreed to end the discussions.
According to a statement from the latter, “The boards of Sportingbet and Ladbrokes agreed to end discussions as the parties were unable to agree either a suitable structure or one that delivered sufficient value to shareholders in a meaningful time frame.”
Ladbrokes has been under some pressure due to its poor performance in the online space. Its poker business saw revenue fall 31 percent in the first half of 2011.
Earlier this year the company was involved in failed takeover talks with 888.com.
Sportingbet share were down 18 percent at the time of writing to 37.5 pence.
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