Paddy Power-Betfair merger timetable released

Paddy Power and Betfair have announced a timetable for the forthcoming merger of the two gambling groups, noting that the merger has been cleared by the Competition and Consumer Protection Commission, and commenting:

“Subject to the Scheme being sanctioned by the Court on 1 February 2016, the company expects the merger to complete on 2 February 2016, when the New Paddy Power Betfair Shares will be admitted to:

(i) the premium listing segment of the Official List of the FCA and to the secondary listing segment of the Official List of the Irish Stock Exchange as an overseas company; and

(ii) trading on the London Stock Exchange’s main market for listed securities and the Irish Stock Exchange’s Main Securities Market immediately thereafter.

On 27 January 2016, the company will announce details of the Paddy Power 2015 Dividend, the Paddy Power Closing Dividend and the Special Dividend, with the record date for these dividends expected to be 6.00 p.m. on 1 February 2016.”

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