Ladbrokes Confirms Approach To Buy 888.com
Ladbrokes Looks To Buy 888, Reports Suggest £240 Million Price Tag
British bookmaking giant Ladbrokes has confirmed it has approached 888.com with an offer to purchase the Israeli-based online poker and casino operator.
Ladbrokes confirmed “very preliminary discussions with 888” today according to Reuters newsagency but added “There can be no certainty that these discussions will ultimately lead to an offer for 888 being made, nor as to the terms of any such offer."
According to a report in the Sunday Telegraph newspaper the offer is around the 70 pence per share mark valuing the company at approximately £240 million.
Previously Ladbrokes had originally tried to buy 888 around the time the Unlawful Internet Gambling Enforcement Act was passed in the U.S. for £470 million but the deal subsequently fell through on fears of potential legal problems.
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