Dermot Desmond will challenge Ladbrokes’s and Coral’s agreement to pay their partner Playtech €106 million, in a bid to have the pair’s €3.3 billion merger put to a second shareholders’ meeting.
The Irish financier, who owns 2.8 per cent of Ladbrokes, vowed to continue his fight against the listed bookmaker’s merger with Coral after a 96 per cent majority voted for it at a shareholders’ meeting yesterday.
Tomorrow he is due to ask the hearings committee of the London Stock Exchange Takeover Panel, which regulates quoted companies, to put the deal to a second meeting on the basis that Ladbrokes failed to publish information material to the transaction in a circular sent to shareholders in October.
Full content: Independent
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