Ladbrokes owner braced for new takeover bid

THE owner of bookmaker Ladbrokes is on alert for a £10billion takeover bid as a restriction on its US suitor from making a fresh offer for the gaming giant ends tomorrow.

In January, Entain – which also owns Coral, Gala Bingo and Sportingbet – rejected an £8 billion all-share offer from USbased casino giant MGM Resorts International.

The collapse of the negotiations led to MGM dropping its pursuit. Under Takeover Panel rules it was prevented from returning with a fresh bid for six months.

The restriction on MGM ends tomorrow, leading to heated speculation in the City that the American group is preparing a new takeover offer for the FTSE100-listed firm.

MGM wanted Entain to help it expand in the fastgrowing US online gaming and sports-betting market. The two companies have a joint venture together. In January, MGM offered £13.83 a share. On Friday, the London-listed company’s shares closed at £18.21.

A spokesman for Entain declined to comment.