Home Business NewsBusiness William Hill’s £3bn takeover bid COLLAPSES

William Hill’s £3bn takeover bid COLLAPSES

by LLB Reporter
19th Aug 16 9:19 am

Rank and 888 not interested anymore

Talks between 888 Holdings, Rank and William Hill for a £3bn takeover have broken down.

888 Holdings said they were not able to “meaningfully engage” with William Hill’s board.

Rank and 888 made two £3bn-plus approaches for William Hill, both of which were rejected.

The news comer after William Hill branded the offer “highly opportunistic” and said it continued “to see no merit in engaging with the consortium.”

Itai Frieberger, chief executive of 888 Holdings, said: “We are disappointed that the board of William Hill did not share our vision of the combined businesses. We believe that there was compelling industrial logic for the combination of these highly complementary businesses.”

Rank and 888 said a combination of the three business could have resulted in £100m of cost savings a year and would have created Britain’s “largest multi-channel gambling operator”.

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