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Ladbrokes walks away from Sportingbet bid

Published 11/10/2011

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.

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