Ladbrokes says bid talks with 888 continue
UK bookmaker Ladbrokes PLC said it is continuing discussions with 888
Holdings PLC over a possible takeover of the troubled online gaming group
but declined to confirm a press report claiming the pair are finalising a
490 mln stg deal. 'We're still in discussions with 888 and no decision has
been made at the moment,' said a Ladbrokes spokesman. The Daily Mail
newspaper, quoting a source close to the situation, today reported the
companies could strike a deal -- valuing 888 at anywhere between 140 pence
and 145 pence a share -- as early as next week. At 11.48 am, 888 shares were
up 2.5 pct at 132 pence, while Ladbrokes shares were up nearly 1 pct at
405.50 pence. Ladbrokes last month said it is in the 'early stages' of
negotiations with 888, gatecrashing merger talks between the online betting
group and rival PartyGaming PLC. 888 confirmed in October it entered into
preliminary discussions with unnamed parties following the suspension of its
main US operations.UK bookmaker Ladbrokes PLC said it is continuing
discussions with 888 Holdings PLC over a possible takeover of the troubled
online gaming group but declined to confirm a press report claiming the pair
are finalising a 490 mln stg deal. 'We're still in discussions with 888 and
no decision has been made at the moment,' said a Ladbrokes spokesman. The
Daily Mail newspaper, quoting a source close to the situation, today
reported the companies could strike a deal -- valuing 888 at anywhere
between 140 pence and 145 pence a share -- as early as next week. At 11.48
am, 888 shares were up 2.5 pct at 132 pence, while Ladbrokes shares were up
nearly 1 pct at 405.50 pence. Ladbrokes last month said it is in the 'early
stages' of negotiations with 888, gatecrashing merger talks between the
online betting group and rival PartyGaming PLC. 888 confirmed in October it
entered into preliminary discussions with unnamed parties following the
suspension of its main US operations.
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