City speculation surges on imminent Ladbrokes takeover bid

City speculation surges on imminent Ladbrokes takeover bid

Wednesday, March 26, 2014 Totally Gaming

Beleaguered bookmaker Ladbrokes could soon be the target of a takeover bid if City speculation is to be believed, with rival Paddy Power being named as a potential bidder. According to sources, a number of private-equity firms are exploring the viability of a bid for the betting firm, with £2 a share being touted as a likely price.  

The news comes weeks after Ladbrokes announced a pre-tax profit plunge of 66 percent, to £67.6m, which it attributed to a continued overhaul of its digital business. Britain's second biggest bookmaker said first-half operating profit in 2014 would also take a hit because of the upgrades, which have been the source of ongoing concern at the betting firm as it has fallen a way behind William Hill who's digital profits are surging.

 

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