United Kingdom competition regulator clears GVC's takeover of Ladbrokes Coral

GVC and Ladbrokes Coral hope to complete the merger before the end of March.

A number of other brokerages have also weighed in on LCL.

LCL stock opened at GBX 173 ($2.39) on Wednesday. Morgan Stanley cut Ladbrokes Coral Group to an equal weight rating and lifted their price target for the stock from GBX 198 ($2.74) to GBX 200 ($2.76) in a report on Monday, January 8th.

In December, GVC agreed to acquire Ladbrokes Coral in a cash and stock deal worth at least GBP3.2 billion, where GVC shareholders will own 53.5% and Ladbrokes Coral 46.5% of the combined company. The company presently has an average rating of "Buy" and a consensus target price of GBX 175.25 ($2.42). Ladbrokes Coral Group has a fifty-two week low of GBX 110.30 ($1.52) and a fifty-two week high of GBX 190.15 ($2.63). This is a boost from Ladbrokes Coral Group's previous dividend of $2.00.

Ladbrokes Coral Group (LON:LCL)'s stock had its "buy" rating reaffirmed by research analysts at Shore Capital in a research note issued on Wednesday. If you are reading this news story on another publication, it was copied illegally and republished in violation of global trademark & copyright legislation. The legal version of this report can be viewed at https://registrarjournal.com/2018/03/21/shore-capital-reiterates-buy-rating-for-ladbrokes-coral-group-lcl.html. The UK Retail segment consists of betting activities in the shop estate in Great Britain.