News of a potential reverse takeover of Ladbrokes Coral by GVC Holdings broke coming into the weekend, but the shocking move looks unlikely to happen as talks have, according to the Financial Times, broken down.
Rumours circulated about a possible £3.2 billion reverse takeover of Ladbrokes Coral by GVC Holdings, where GVC would pay a premium of approximately 30 percent for the gambling entity that only merged in November 2016.
Shares in Ladbrokes climbed by 5.7 percent by the close of business on Friday, but ended 5.2 percent down on Monday following a report in the Financial Times revealing takeover talks had broken down.