Billionaire investor Dermot Desmond has voiced his disapproval of the merger deal between Ladbrokes and Coral, noting that if the merger were to take place that it would be "effectively be the death of Ladbrokes".
Ladbrokes has agreed to a £2 billion acquisition deal with Coral, which would create a mega-gaming firm based out of the UK. Desmond says that he wants to have the deal reviewed by an independent bank, and have the board investigate other possible options.
Ladbrokes filed a response to Desmond's objection, noting: "We have had significant dealings with Mr Desmond as both a shareholder and a commercial partner over recent times."
"We note his views and are not surprised by them as he has been in extensive dialogue with the management team and not been afraid to talk of undertaking such action."