Ladbrokes / Coral merger inquiry
The CMA investigated the anticipated merger between Ladbrokes plc and certain businesses of Gala Coral Group Limited.
Phase 2
Administrative timetable
Date of referral: 11.1.16
Statutory deadline: 19.8.16 (with 8 week extension)
- (updated on 20.5.16)
- (20.5.16)
Contact
CMA approves Ladbrokes/Coral merger
26 October 2016: The CMA has approved the sale by Ladbrokes and Coral of 360 licensed betting offices to Betfred, Stan James and Bet21 to resolve the competition concerns it had identified in its final report.
- (26.10.16)
Remedy group appointed
11 October 2016: The CMA has appointed the following panel group members to the Ladbrokes Coral remedy group.
Martin Cave (Inquiry Chair), John Harley, Andrew Popham and Gavin Robert.
Final undertakings
11 October 2016: The CMA has accepted undertakings from Ladbrokes plc and Gala Coral Group Limited to remedy the substantial lessening of competition identified in the final report.
- (12.10.16)
Notice of proposal to accept final undertakings
- (12.9.16)
- (12.9.16)
- News story: CMA consults on Ladbrokes/Coral merger undertakings (12.9.16)
Undertakings
- (18.7.16)
Amendments/consents granted
- (9.9.16)
Directions to appoint monitoring trustee
29 July 2016: On 26 July, the CMA directed Ladbrokes plc and Gala Coral Group Limited, pursuant to the interim undertakings dated 18 July, to appoint a monitoring trustee.
- (29.7.16)
Final report
- (26.7.16)
- (26.7.16)
- (26.7.16)
- Press release: Ladbrokes/Coral must sell around 350 to 400 shops for clearance (26.7.16)
Provisional findings
20 May 2016: The CMA has provisionally found that the merger between Ladbrokes and Coral may give rise to competition concerns in a large number of local areas.
Following the CMA’s provisional findings, it has decided to reopen the review of the undertakings given in 1999 by Hilton Group plc (now Ladbrokes plc).
- (20.5.16)
- (20.5.16)
- (20.5.16)
- (20.5.16)
- (20.5.16)
- Press release: Ladbrokes/Coral merger clearance may depend on shop sales (20.5.16)
Evidence
The publication of the evidence of any party on the CMA’s webpages does not indicate in any way endorsement by the CMA of the views expressed in the evidence or acceptance of that evidence. Publication in this way is designed to assist public understanding of the issues.
Response hearing summaries
- (21.7.16)
- (15.7.16)
Responses to provisional findings and notice of possible remedies
- (18.7.16)
- (18.7.16)
- (7.7.16)
- (17.6.16)
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- (17.6.16)
- (14.6.16)
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- (10.6.16)
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Hearing summaries
- (26.4.16)
- (8.4.16)
- (6.4.16)
- (24.3.16)
- (18.3.16)
- (4.3.16)
- (4.3.16)
- (4.3.16)
Responses to Ladbrokes/Coral initial submission
- (12.4.16)
- (8.4.16)
Responses to issues statement
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(6.4.16)
- (20.4.16)
- (15.4.16)
- (29.3.16)
- (29.2.16)
Initial submissions
The CMA’s merger inquiry is independent and welcomes submissions from all interested parties.
- (24.2.16)
- (17.2.16)
- (17.2.16)
- (PDF, 1.3Mb) (17.2.16)
- (12.2.16)
Analysis
Customer research survey: CMA commissioned research
- (PDF, 1.4Mb) (18.3.16)
Issues statement
4 February 2016: The issues statement sets out the scope of the investigation. It outlines initial theories on what might be adversely affecting competition, but it does not set out findings or conclusions.
- (4.2.16)
- Press release: CMA publishes issues statement in Ladbrokes/Coral merger (4.2.16)
Inquiry group appointed
11 January 2016: The CMA has appointed the inquiry group.
Martin Cave (Inquiry Chair), John Harley, Andrew Popham and Gavin Robert.
Disclosure of interest
John Harley was a Non-executive Board Member of 24/7 Gaming Group Holdings plc from July 2013 to January 2014. The CMA is satisfied that these matters will not prejudice the ability of the inquiry group to discharge its functions in an independent and impartial manner.
Terms of reference
11 January 2016: The CMA has referred the anticipated merger between Ladbrokes plc and certain businesses of Gala Coral Group Limited for an in-depth phase 2 investigation.
- (11.1.16)
Phase 1
| Phase 1 | Action |
|---|---|
| 25 January 2016 | Decision published |
| 11 January 2016 | Decision announced |
| 16 December 2015 | Launch of merger inquiry |
| 16 December 2015 to 4 January 2016 | Invitation to comment |
Reference decision
- Press release: Ladbrokes/Coral merger fast-tracked to phase 2 investigation (11.1.16)
- (25.1.16)
Launch of merger inquiry
16 December 2015: The CMA announced the launch of its merger inquiry by notice to the parties.
- Press release: Ladbrokes and Coral request fast track reference to phase 2 (16.12.15)
- (16.12.15)
Last updated 26 October 2016 + show all updates
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Approval letter for sale of Ladbrokes/Coral LBOs published.
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Final undertakings published and remedy group appointments added.
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Notice of proposal to accept undertakings and draft final undertakings published.
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Notice of consent published.
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Direction to appoint monitoring trustee notice published.
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Full final report published.
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Summary of final report published.
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Response hearing summary published.
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Notice of acceptance of interim undertakings published.
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Responses to provisional findings published.
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Response hearing summary published.
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Response to provisional findings published.
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Responses to provisional findings published.
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Responses to notice of possible remedies published.
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Responses to provisional findings and notice of possible remedies published.
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Full provisional findings report published.
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Timetable updated and summary of provisional findings, notice of possible remedies and notice of extension published.
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Hearing summary published.
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Timetable updated.
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Response to issues statement published.
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Response to issues statement published.
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Response to initial submission published.
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Hearing summary and initial submission published.
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Response to issues statement and hearing summary published.
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Response to issues statement published.
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Hearing summary published.
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Research survey report and hearing summary published.
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Hearing summaries published.
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Response to issues statement published.
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Initial submission published.