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Investors in Dublin-centered Paddy Power may possess 52 percent of the combined business, with members of London-based Betfair buying the rest. Paddy Power shareholders may also receive a specific dividend of 80 million dollars (91. 9 million) prior to achievement, the organization said. Corcoran, chief executive officer of Betfair, will become boss of the proposed new firm, while Paddy Powers Gary McGann will be chairman.
The negotiation is subject to court authorization. This negotiation is too little to have any affect over dividend conclusions, Bruyette, Keefe Woods Inc. professionals Mark Phin wrote to shareholders in a note.
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