A PYMNTS Company

UK: Paddy Power and Betfair unveil £5 billion merger

By  |  August 30, 2015

Paddy Power chief executive Andy McCue hailed the move – a game changer for the industry in the UK especially – as a “merger of equals”. Shares in both companies soared on the back of the proposed deal, which was announced yesterday.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    The merger, in the making for just the past few weeks, will result in the creation of Paddy Power Betfair plc, a company that will be listed on the London and Dublin stock exchanges.

    Between them, Paddy Power and Betfair generated net revenues of about €1.5bn last year.

    The merger should be completed in early 2016, assuming it encounters no competition hurdles, which it is unlikely to.

    Full content: The Wall Street Journal

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