The newly merged Ladbrokes Coral is the subject of a rumoured takeover approach from GVC, reports FT.com.

GVC eyeing Ladbrokes Coral

Valuing Ladbrokes Coral at £3.2bn, advisers to GVC have reportedly drafted proposal similar to last year’s £1.1bn takeover of Bwin, which was paid for mostly in shares.

Ladbrokes Coral and GVC both saw their share price climb on Friday and neither company has commented on the rumour.

Source: FT.com