Monday, April 23, 2007

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Ladbrokes and 888 amicably end talks

By Christopher Hunt

In brief statements to the London Stock Exchange today, two of the biggest online gaming companies in the world - Ladbrokes, Plc. and 888 Holdings, Plc. - announced they've discontinued talk of a merger.

"Further to the announcement made by 888 on Oct. 30," 888 wrote, "and by Ladbrokes on Nov. 6 concerning discussions regarding a possible transaction, the board of 888 announces that the parties have amicably agreed to discontinue talks."

The two gaming and sportsbetting heavyweights had been discussing a possible buyout since October of last year, but the uncertain legal ramifications of 888's previous activity in the United States has complicated the process.

The net result of the announcement this morning was a drop in share price for 888, owner of Pacific Poker, with a 5.7% hit lowering the price to $2.31 on the London Stock Exchange.

Ladbrokes shares, however, inched up a little, increasing just over 1%.

Related Articles:

Former 888 CEO Meets with French Authorities
Ladbrokes, 888 Working on Takeover Plan
Ladbrokes Confirms Talks to Buy 888

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