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		</div><p><a href="http://londonglossy.com/wp-content/uploads/2010/12/ladbrokes-in-talks-with-online-firm.jpg"><img class="alignnone size-full" title="Ladbrokes has made a 240m pounds takeover approach to online gaming company 888, according to a newspaper report" src="http://londonglossy.com/wp-content/uploads/2010/12/min-ladbrokes-in-talks-with-online-firm.jpg" alt="Ladbrokes has made a 240m pounds takeover approach to online gaming company 888, according to a newspaper report"/></a></p>
<p>Ladbrokes has made a £240m takeover approach to online gaming company 888, according to a newspaper report.</p>
<p>Ladbrokes, which is being advised by Deutsche Bank Greenhill, has made an offer of 70p a share, substantially more than its 49p share price on Friday, according to The Sunday Telegraph.</p>
<p>Ladbrokes today confirmed it was in &#8220;very preliminary discussions&#8221; with 888 but refused to discuss details and said there was no certainty an offer would be made.</p>
<p>The newspaper also claimed that other companies including online rival Sportingbet are also in the running to make an offer for 888.</p>
<p>Ladbrokes tried to buy 888 four years ago for £470 million, according to the newspaper, but the deal fell through because of concerns that its target could be prosecuted by the American Department of Justice (DoJ) as part of a crackdown on online gambling.</p>
<p>PartyGaming and Sportingbet have paid 105 million US dollars (£68 million) and 33 dollars million (£21.2 million) respectively to the DoJ to ensure they are not prosecuted, but 888 is not believed to have secured such an agreement.</p>
<p>Ladbrokes&#8217; internet business is seen as one of its problem areas and it has lagged behind William Hill&#8217;s since its rival forged an online joint-venture with Playtech, said the newspaper.</p>
<p>888 admitted in recent months it is considering a merger, following in the footsteps of industry peers PartyGaming and Bwin.</p>
<p>Chief executive Gigi Levy said in August: &#8220;We look at consolidation as one of the possible routes to realising our full value and feel that longer term this is the direction the industry will take.</p>
<p>&#8220;We have always stated that we will look into all relevant deals and expect the recent merger news to accelerate such discussions in the industry.&#8221;</p>
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