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Ladbrokes makes approach for Sportingbet

23rd June 2011 9:39 am GMT

Shares in Sportingbet plc soared by more than 15 per cent in London this morning after the company confirmed that it has received a “highly preliminary approach” from UK bookmaker Ladbrokes which may lead to an offer being made to acquire the company.

Yesterday, media reports were rife with rumours that Ladbrokes were lining up a bid of 70 pence per share for Sportingbet, valuing the company at more than £460m.

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