William Hill receives merger offer from gambling rivals 888 and Rank

In a statement, 888 and Rank said they saw benefits to merging their in-store and online operations with William Hill

William Hill has received a"preliminary" merger offer from 888 Holdings and Rank Group (Reuters)

888 Holdings and The Rank Group said they’re considering a joint takeover offer for bookmaker William Hill.

In a statement, the two gambling companies said they saw benefits to merging their in-store and online operations.

In a separate statement, William Hill said it received a “highly preliminary” approach from 888 and Rank over the weekend regarding a potential combination, and would listen to any proposal, yet said it wasn’t clear if such a combination would enhance its position in the industry.

Maidenhead-based Rank and Gibraltar-based 888 need to formally announce their intention to make an offer or walk away by 5 pm on 21 August, under UK takeover rules.

© Bloomberg