Rank – 888 Not Deterred by Will Hill’s Rejection of Their Bid

by John McCreary on 2016/08/13

Following Will Hill’s rejection of the £3.2bn takeover bid, 888 Holdings and Rank Group continued their efforts to acquire the UK gambling operator yesterday by suggesting further talks and hinting at their open-mindedness regarding their bid. Acquiring Will Hill was to be the first step in the formation of a new company called BidCo, which the joined companies said it would be “the UK’s largest multi-channel gambling operator”. However, William Hill’s board remained firm on their decision, continuing to call the proposal risky and undervaluing. This did not deter Henry Birch, Rank’s chief executive, who told the press that they are prepared to consider a higher bid.