Ladbrokes in second takeover approach for 888 group

Frequent speculation in the M&A sector this year was that Ladbrokes would make a bid for online gambling group 888 and this is apparently about to occur with the UK publication The Telegraph reporting over the weekend that the former is making a £240 million takeover attempt.

However the betting firm may not have the field to itself as Sportingbet is also reported to be in the running.

The newspaper opines that CEO, Richard Glynn could encounter opposition from investors because 888 has not yet settled with the U.S. Department of Justice on its pre-UIGEA activities unlike rivals PartyGaming and Sportingbet.

Ladbrokes originally tried to buy 888 four years ago for £470 million.

Source: InfoPowa News

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