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Ladbrokes deal clears final hurdle

Attempts to scupper the merger between Ladbrokes and Coral by high-profile investor Dermot Desmond fail.
November 26, 2015

The stage was set for a dramatic showdown at the Ladbrokes (LAD) emergency general meeting, but shareholders voted overwhelmingly in favour of the proposed merger.

IC TIP: Hold at 110p

High-profile shareholder Dermot Desmond had sought to derail the deal after sending a letter to investors and brokers outlining his misgivings.

But more than 96 per cent of those that voted were in favour of the deal, meaning all that stands in the way now is the set of potential demands from the Competition and Markets Authority.