19th Nov 2015 06:39
LONDON (Alliance News) - The battle launched by Irish financier Dermot Desmond to block the proposed merger of bookies Ladbrokes PLC and Gala Coral Group Ltd has gathered some momentum, The Daily Telegraph reported, after a top ten shareholder in the company said he would meet with Desmond to discuss his concerns.
Earlier this week, Desmond sent a letter to fellow Ladbrokes shareholders arguing the proposed merger will lead to the "death" of Ladbrokes as an independent company, urging shareholders to vote against the deal. Desmond, who controls Celtic Football Club in Scotland, is thought to have a stake of between 1.0% and 2.0% in Ladbrokes.
The Telegraph said a top ten shareholder, whom it did not name, told the paper he shared some of the concerns Desmond had outlined and would meet with the billionaire to hear his grievances.
http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/leisure/12004304/Shareholder-opposition-to-merger-of-Ladbrokes-and-Coral-mounts.html
By Sam Unsted; [email protected]; @SamUAtAlliance
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