Shares in Ladbrokes Coral tumbled after it was reported that short-lived talks about a possible takeover bid from GVC had broken down. The company’s stocks had just received a boost from the initial report the talks were even underway.
Ladbrokes Coral stocks had risen steadily after it was reported that GVC was interested in a £3.2 billion takeover attempt. But London’s Financial Times later reported that the talks had ended shortly after the story first broke and Ladbrokes Coral’s stock promptly fell.
Had the deal happened it would have created a $5 billion company with a major share of online and land-based sports betting in the UK.
