SHARES in Ladbrokes have surged more than 18 per cent after investors welcomed talks over a proposed merger with Gala Coral Group.
Ladbrokes' Scots chief executive, Jim Mullen, underlined the attractions of a deal as he confirmed talks between the two parties have taken place.
It comes just days after Mr Mullen, a former head of William Hill's digital business, told The Herald he was determined to take Ladbrokes back to the top of the UK gambling industry.
In a statement, he cited the potential of a merger with Gala Coral to deliver cost synergies and value for shareholders of both companies.
Shares were at 114.6p in early afternoon trading, up 22.5p on Monday's closing price.
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