Shareholders set for €80m Betfair merger win

Paddy Power shareholders are in line for a fresh €80m windfall, via a special dividend payout, if the leading Irish betting services firm succeeds in its planned merger with UK-based online rival, Betfair.

It was announced yesterday the two companies have reached initial agreement to merge to form a €1.5bn revenue-generating entity, of which Paddy Power would control 52% and Betfair the remaining 48%.

Part of the initial terms announced is the payment of a special dividend of €80m to Paddy Power shareholders immediately prior to deal completion.