Ladbrokes Coral considers bid for Australia’s Tabcorp
Ladbrokes Coral has held discussions over the potential acquisition of Australian betting operator Tabcorp.
According to various media reports, Ladbrokes Coral, which was formed earlier this month by the merger of Ladbrokes and Gala Coral, could now make an offer worth more than £2 billion (€2.3 billion/US$2.5 billion).
The news comes at a time when Tabcorp is considering a possible merger with rival Australian company Tatts Group, in a deal that could lead to the creation of a combined business worth A$11.3 billion.
Last week, Tabcorp secured 10% of the total shares in Tatts as part of an effort to help push the potential deal forward.
However, although Ladbrokes has hired advisors to assist on the Tabcorp talks, the company is not believed to be interested in acquiring Tatts.
Ladbrokes and Tabcorp are yet to officially comment on the reported talks.