Bookmaker Ladbrokes owner on alert for £10bn takeover bid, as ban on his US boyfriend making a fresh offer to the gaming giant
The owner of bookie Ladbrokes is on alert for a £10bn takeover bid, as the ban on its American boyfriend from making a new offer for the gaming giant ends tomorrow.
In January, Anten – which also owns Coral, Gala Bingo and Sportingbet – declined an £8 billion all-share offer from US-based casino giant MGM Resorts International.
A bad sign: In January, Anten declined an £8 billion all-share offer from US-based casino giant MGM Resorts International.
The collapse of the negotiations led to MGM abandoning its pursuit. It was barred from returning from fresh bidding for six months under the rules of the takeover panel.
The ban on MGM expires tomorrow, prompting speculation in the city that the US conglomerate is preparing a new takeover offer for the FTSE100-listed firm.
MGM wanted Enten to help it expand into the rapidly growing US online gaming and sports-betting market.
The two companies together have a joint venture. In January, MGM offered £13.83 per share.
Shares of the company listed in London closed at £18.21 on Friday.
A spokesperson for Anten declined to comment.