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

Matthew Boyle
Monday 25 July 2016 08:36
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William Hill has received a"preliminary" merger offer from 888 Holdings and Rank Group
William Hill has received a"preliminary" merger offer from 888 Holdings and Rank Group

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

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