The UK Competition and Markets Authority on Monday invited “interested parties” to comment on the proposed merger of Irish bookmaker Paddy Power with UK rival Betfair.
The competition authority is currently investigating whether or not the merger of the two companies, which would create one of the world’s biggest gambling groups, with annual revenues between € 1.5 and € 2 billion and a stock market value of about € 8 billion, would result in a “substantial lessening of competition” in the UK.
First announced in August, under the proposed deal’s terms, Paddy Power shareholders will get 52 per cent of the enlarged entity and will receive a special dividend totalling € 80 million before any deal goes ahead. Betfair’s owners will receive 48 per cent of the new company.
Full content: London Stock Exchange
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Hess Shareholders Approve $53 Billion Merger with Chevron
May 28, 2024 by
CPI
EU Regulators Engage with Telegram as App Nears Critical Usage Threshold
May 28, 2024 by
CPI
EEX Offers Remedies to Address EU Antitrust Concerns Over Nasdaq Deal
May 28, 2024 by
CPI
BRG Expands European Competition Practice with New Expert Team in Brussels
May 28, 2024 by
CPI
UK Law Empowers Regulators to Fine Big Tech Without Court Approval
May 28, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Merger Guidelines Retrospective
May 21, 2024 by
CPI
Mergers of Complements
May 21, 2024 by
CPI
Personality Traits, Private Equity, and Merger Analysis
May 21, 2024 by
CPI
The 2023 Merger Guidelines: Lessons in the Importance of Incipiency, Modern Economics, and Monopsony
May 21, 2024 by
CPI
The 2023 Merger Guidelines: Sharpening Merger Analysis
May 21, 2024 by
CPI