Rank / 888 Consortium Bid Gbp 3.6 Billion For Will Hill (update)

Formal offer submitted following industry speculation

Initial media reports suggest Rank Group and 888 Holdings have partnered to formally submit a GBP 3.6 Billion bid for William Hill following a week of speculation and a rather lukewarm response from William Hill on the prospects of a bid at the time.
According to the Financial Times, the Rank/888 consortium has offered 364p a share "as well as setting out merger synergies that boost the value of the proposal to 408p a share, according to the [unidentified] people briefed on the plans".
The consortium anticipates the creation of larger scale will offset increased tax burdens and allow them to remain competitive against other consolidation in the sector such as the recent Paddy Power Betfair tie-up.
Rank Group, 888 and William Hill have declined to comment at this stage.

Online Casino News Courtesy of Infopowa

About the Author... Total Posts Written: 9,461


The man with the plan here at Casinomeister. Bryan Bailey has been running Casinomeister since its launch in June of 1998. He has watched the industry grow from its primeval stage to what it is now. The Meister has attended nearly 100 conferences in the past 20 years and has either been a speaker or a panel moderator for at least 60 events. He has always been an advocate of fairness and reason and is known to like German beer, a good Scotch, and astrophography.

See More Posts