Ladbrokes walks away from Sportingbet bid
Published 11/10/2011 | 08:00
Betting giant Ladbrokes spurned a second major takeover opportunity after walking away from a bid for rival Sportingbet.
Ladbrokes chief executive Richard Glynn said the abandoned approach was not a "failure" and saved the company from entering a deal which would not have delivered value to its shareholders.
The high street bookie failed to conclude a deal with another online gambling group, 888, earlier in the year.