Shares in takeover target Entain rose yesterday following reports private equity predators are poised to swoop in on the Ladbrokes and Coral owner. The gambling giant could sell some of its overseas brands to buyout firms such as CVC Capital or Apollo, which last year bought the Wagamama owner The Restaurant Group (TRG).
The group has hired the investment bank Moelis to lead a review of its business, according to reports over the weekend.
Shares gained 5.2 per cent, or 41p, to 825p yesterday valuing the business at around £5.3 billion [$6.7 billion].
The departure of Entain’s chairman has fuelled speculation that the company could become vulnerable to further swoops.
