Media reports in Britain this week have hinted that rumors concerning the possible takeover of Gibraltar-based gambling group 888.com by Ladbrokes could be hitting close to the mark. According to the Financial Mail and Sky TV, a takeover package of 440 million pounds sterling is being prepared by Ladbrokes to take over 888. The deal would effectively give Ladbrokes access to 888's considerable assets, which would be purchased without the full takeover of the group's core business.
An article in the Financial Mail has quoted a well known lawyer involved in the gambling industry as saying: "If a company faces criminal liabilities in the US, selling up is not the end of it. The new owner will face the same criminal proceedings. But this new structure could give Ladbrokes an interesting defense by separating the corporate identities of the two companies."
Another analyst told the newspaper that the rumored takeover bid would result in Ladbrokes "...having their cake and eating it." However, the deal is allegedly being held up by Ladbrokes non-executive directors who have been paying close attention to all legalities.
While an official statement is still forthcoming from the gambling firm, the rumors have had a strong impact on its share price, which closed on Friday at a record high.

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