Tag Archives: Breon Corcoran

Paddy Power Betfair gets shareholders’ YES vote

There will be no time to celebrate Christmas for Paddy Power and Betfair governances as the shareholders of both companies have agreed outright to approve the £6.2 billion merger deal. Holding simultaneous ‘extraordinary meetings’ on Monday 21 December in which shareholders filed their votes, the merger deal saw a 99% investor approval, gaining a further significant step towards the creation of …

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Scott Longley – Merger Mania – the race is on, but there can only be one winner…

As with comedy, timing is everything in business. While there is a logic to the recent outbreak of consolidation within the gambling industry, for two of the mega-deals currently underway – the Paddy Power Betfair and Ladbrokes Coral mergers – the coincidence of the deals is providing onlookers with some choice compare and contrast examples. ____________________________ Last week was an …

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21 December sees PaddyPower-Betfair shareholder vote

Issuing a short statement on Friday (27 November), Paddy Power Plc and Betfair Group Ltd have both announced that the planned £6.2 billion merger deal will be put to vote on 21 December. Both operators are set to host ‘extraordinary meetings’ in which investors will cast their votes on whether to progress the merger. Preparing for their shareholder vote, Paddy …

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Paddy Power to send Betfair merger prospectus to investors

Shareholders in Paddy Power will receive a detailed prospectus outlining plans and initiatives for the company’s planned £6.4 billion merger with rival Betfair. Investors are set to receive the prospectus, ahead of voting on the deal at an extraordinary general meeting. At present, Ireland’s Competition and Consumer Protection Commission’s (CCPC) is set to complete its Phase 1 competitor review by …

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Paddy Power – Betfair merger enters phase 1 CCPC review

The planned £6.2 billion (€7.5 billion) Paddy Power/Betfair merger has entered its phase one probe by the Irish Competition & Consumer Protection Commission (CCPC). Since the merger was first announced on the 25 of August, Paddy Power and Betfair governances’ have been working together to submit the planned proposal to the CCPC. The CCPC will now review the operators’ plans …

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Paddy Power & Betfair agree on merger terms & conditions

Issuing an investor update this morning, Betfair and Paddy Power governances have confirmed that terms and conditions of their proposed £5 billion merger have been agreed on. The announcement sees Paddy Power agreeing to acquire Betfair assets at a value of £2.86 billion ($3.2 billion). Once completed the planned merger will result in Paddy Power shareholders owning 52% of the …

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PIRC urges Betfair shareholders to reject Breon Corcoran reward package

Shareholder and corporate governance adviser PIRC has recommended that Betfair investor’s reject CEO Breon Corcoran’s £11.5 million reward package at next week’s annual general meeting (AGM). PIRC has recommended its actions by stating that Betfair’s improved financial performance under Corcoran leadership, has not been met with appropriate compensation/dividends for its investors. The advisory group continues to detail that Betfair financial …

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Cubo wins Betfair brand lead account

London creative strategy agency Cubo, has been awarded Betfair’s brand management account ahead of the start of the new Premier League season on 8 August. Cubo will launch and manage the operator’s first ‘above-the-line’ campaign for the start of the English football season titled “More to Play For”. The campaign will utilise multiple media channels including TV, Radio, Press and …

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MediaCom wins Betfair £15 million European media account

Betfair has confirmed that it has awarded its £15 million European media planning and buying account to international media agency MediaCom. MedicCom will replace Havas Media Group agency Arena, who declined to re-pitch its services to Betfair, Arena had been lead media planner for Betfair since 2013. Betfair had announced it would conduct a European media planning and buying review …

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Betfair – 2015 an excellent year following profits & revenue jump

Betfair governance has named 2015 (year end 30 April) as an excellent year, as the operator saw full year top line metric growth on all key performance verticals. Posting 5 consecutive quarters of double digit growth, Betfair would record corporate revenues of £476 million up 21% on FY 2014 £393 million. The operator would further record a boost in EBITDA …

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