888 and Rank in a William Hill Takeover Attempt

by John McCreary on 2016/07/26

It was reported that two betting and casino operators – 888 Holdings and Rank Group have teamed up and will launch a joint bid for William Hill, one of the leading operators in the UK. This comes after the company’s revenues decreased and the chief executive was sacked. The price of William Hill’s shares dropped by over 20% since the beginning of 2016 and the company is now valued at £2.7 billion. If 888 and Rank merge and the new company manages to overtake William Hill, the new subject will be worth over £3 billion and will definitely be one of the largest players on the market. It has been suggested that William Hill probably won’t accept the offer.