On 23rd of June 2011, Sportingbet plc a United Kingdom online gaming group has received an approach from Ladbrokes plc related to some possible offer for the company. Since then discussion between these two parties are taking place. This week, both the parties have reveled that to the stock exchange that they are still making discussions on the topic, and will come up with a final announcement in due course of time.
All the anticipation and assumption will soon come to an end. According to exchange rules, on 17th of October 2011, before 5.00 p.m. Ladbrokes need to make an announcement. Either the announcement can be related to a firm intention of making an offer to Sportingbet as per Rule 2.7 of the Code or they will announce that they are not planning to make an offer.
However, this time limit can be extended with a formal approval of the exchange.
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September 20, 2011, 5:40 am (2 months ago)
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