Ladbrokes
CEO Dismisses Takeover Talk
As reported by the UK ABC Money:
"Chris Bell, chief executive of the rechristened
Ladbrokes Plc., has reiterated that there is
no intention of taking the business private,
even as the market is full with reports of a
takeover by equity firms like CVC Capital Partners,
Blackstone and BC Partners.
"He
said he is ruling such a prospect, insisting
that he is not interested in pursuing a buyout
to make millions like his rivals William Hill
and Coral have done. Ladbrokes, which belonged
to the Hilton Groups of Britain, has become
a standalone company with a new name following
the sale of the hotel business to Hilton Hotels
Corporation of the U.S. for 3.3 billion pounds.
"Analysts
are, however, not willing to bite this. Many
of them feel Ladbrokes will not be able to resist
the offers that could come in sooner than later
now that the company's valuation is possible…"
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