The shareholders of GVC Holdings, the major internet gambling operator, have formally approved the proposed acquisition of Ladbrokes Coral, at an extraordinary general meeting on March 8.
Approval of the acquisition was carried with 99.97 per cent of the votes and completion will be subject to conditions, but planned for March 28.
The £4bn merger still remains conditional upon the sanctioning of the court on March 26. Under the terms of the merger, GVC shareholders will own 53.5 per cent and Ladbroke Coral shareholders 46.5 per cent of the new company.
Commenting on the shareholder approval of the deal, Chairman John Kelly said:
"It is pleasing that shareholders have overwhelmingly recognised the opportunity and value the proposed deal with GVC offers Ladbrokes Coral. The Board firmly believe that in creating a bigger and more diverse group, Ladbrokes Coral and its people, brands and shareholders will be helping to create a world leading betting and gaming business.
I would also like to thank the employees and shareholders of Ladbrokes Coral for their strong and committed support since its creation."
