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Ladbrokes Shareholders Give Go-Ahead to Gala Merger

UK retail and online betting giant Ladbrokes had its shareholders overwhelmingly approve the company's merger with Gala Coral Group, with 96% of shareholders voting in favor of the deal.

96% of all shareholders approved the deal, while 94% approved the waiver that was placed by the Takeover Panel. If the deal meets all regulatory hurdles, the combined company will be dubbed Ladbrokes Coral plc.

Commenting on the approval Gala Coral Chairman Rob Templeman said, "We are pleased Ladbrokes has secured the support of its shareholders for the proposed merger of Ladbrokes and Gala Coral. This is a very important milestone in the process and reflects the compelling logic of combining our businesses."

"Both Ladbrokes and Gala Coral continue to work constructively with the Competition and Markets Authority and a further update will be provided in due course."

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