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Paddy Power and Betfair agree potential mega-merger

26th August 2015 6:27 am GMT

London-listed betting and gaming operators Paddy Power and Betfair have reached an agreement in principle to merge the two companies, with Paddy Power shareholders owning 52 per cent of the enlarged group.

In a joint statement this morning, the companies said that the creation of Paddy Power Betfair plc would create one of the world’s leading online betting and gaming operators by revenue, with “enlarged scale, capability and distinctive and complementary brands.”

“The combination has compelling strategic logic [...]

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