Less than a month after the proposed merger of Paddy Power plc and Betfair Group Ltd (LON:BET) got the nod of consent of the UK Competition and Markets Authority (CMA), the deal secures the approval of Ireland's Competition and Consumer Protection Commission (CCPC). The Irish watchdog today announced that it has cleared the proposed merger.…
Read moreThe UK Competition and Markets Authority (CMA) today announced that it has decided not to refer the anticipated merger of Paddy Power plc and Betfair Group Ltd (LON:BET) to a Phase 2 investigation under the provisions of the Enterprise Act 2002, thus giving its consent for the deal to proceed. Betfair expects that the deal,…
Read moreA short note on the proposed acquisition of Betfair Group Ltd (LON:BET) by Paddy Power plc... The companies today announced that the proposed deal will be put to vote on December 21, 2015. To become effective, the Scheme of arrangement of the deal will need to be approved at Betfair's Court Meeting and will require…
Read moreThe UK Competition and Markets Authority (CMA) today published an invitation for comments on the proposed merger of Paddy Power plc and Betfair Group Ltd (LON:BET), initially unveiled in August this year. Under the terms of the deal, a new combined entity, named Paddy Power Betfair plc, will be created. It is expected to achieve…
Read moreBetfair shareholders will be entitled to receive 0.4254 shares in newly created Paddy Power Betfair in exchange for each Betfair share.
Read moreUnder the terms of the agreement, Betfair shareholders will own 48%, and Paddy Power shareholders will own 52% of a new entity called Paddy Power Betfair plc.
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