The racing world woke up to the news on Wednesday morning that two giants of the betting world, Paddy Power and Betfair, had become engaged and that plans for the marriage are well under way. They still have to make it up the aisle, with competition authorities in different jurisdictions a hurdle they may yet have to overcome.
Whether this coupling is good news depends on which side of the coin you are looking at. There are many aspects to the potential deal that can be considered and analysed, and some appear more attractive than others. Certainly for the current stakeholders in both companies, the increase in value of both shows that the market appetite for the deal is strong, with substantial monetary gains likely to continue.