Key Takeaways
- The Betfair vote was 99.999% in favor of the merger.
- Betfair and Paddy Power both stated that they expect the deal to complete in the first quarter next year.
On December 21, Betfair and Paddy Power shareholder voted on the proposed merger of the two companies.
The Betfair vote was 99.999% in favor of the merger. Paddy Power is listed on the Irish Stock Exchange which doesn’t require the numbers or percentages of votes to be published, but all 17 resolutions which were presented regarding the merger were “duly passed.”
The merger remains subject to certain conditions, including approval by Betfair’s Court. The UK Competition and Markets Authority (CMA) which regulates mergers between listed companies gave its approval a few days ago.
