Davy Stockbrokers has today reported that the Irish Competition and Consumer Protection Commission (CCPC) has cleared the proposed merger between Paddy Power and Betfair, which means that the deal can now proceed.
The companies have announced that the merger will be completed on February 2nd with new Paddy Power Betfair shares commencing trading on that date.
The further near-term benefit is that the new company will likely qualify for FTSE 100 inclusion at an earlier date than previously anticipated with the next review set for the beginning of March.
Source: www.businessworld.ie