Casino Giants in Merger Talks
ENGLAND – As reported by the UK Telegraph: "Stanley Leisure is in talks with rival casino operator London Clubs International about a £700m nil-premium merger that would create one of the country's largest gambling groups. Talks about who would be in charge of the merged group are still at an early stage.
"However, Stanley shareholders are likely to insist that its management, led by chief executive Bob Wiper, is in the driving seat, raising questions about the future of LCI's chief executive, Bill Timmins.
"Should the merger proceed it is expected one new Stanley Leisure share would be exchanged for six London Club shares, according to a joint statement this morning.
"…Stanley Leisure shares rose 15 to 650p in morning trade and London Clubs stock edged 2p higher to 109p…"
2006-06-27
