A PYMNTS Company

UK: Dermot Desmond vows to block Ladbrokes £2 billion merger

 |  November 25, 2015

Dermot Desmond will challenge Ladbrokes’s and Coral’s agreement to pay their partner Playtech €106 million, in a bid to have the pair’s €3.3 billion merger put to a second shareholders’ meeting.

The Irish financier, who owns 2.8 per cent of Ladbrokes, vowed to continue his fight against the listed bookmaker’s merger with Coral after a 96 per cent majority voted for it at a shareholders’ meeting yesterday.

Tomorrow he is due to ask the hearings committee of the London Stock Exchange Takeover Panel, which regulates quoted companies, to put the deal to a second meeting on the basis that Ladbrokes failed to publish information material to the transaction in a circular sent to shareholders in October.

Full content: Independent

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.