888 terminates takeover talks with potential bidder William Hill
Online gambling group 888 Holdings was “unable” to agree on the terms of a possible takeover by William Hill and talks have been called off.
Evoke (DI)
62.40p
16:40 01/11/24
1.22%
0.75p
FTSE 250
20,479.74
17:14 01/11/24
n/a
n/a
FTSE 350
4,508.38
17:14 01/11/24
n/a
n/a
FTSE All-Share
4,465.61
16:54 01/11/24
n/a
n/a
FTSE Small Cap
6,842.29
16:34 01/11/24
n/a
n/a
Travel & Leisure
8,153.56
17:14 01/11/24
0.52%
42.39
William Hill
271.80p
09:58 22/04/21
0.00%
0.00p
The company, which on 10 February confirmed speculation that it was in discussions with the high street bookie, said on Monday that the decision follows concerns from a key shareholder.
The initial proposal from William Hill valued 888 at 200p per share, plus a 3p dividend, equal to around £700m. The stock closed Friday’s session at 170.75p.
888 said in a statement: “Due to a significant difference of opinion on value with a key stakeholder, it has not been possible to reach agreement on the terms of a possible offer and the board of the company has agreed with William Hill to terminate discussions.”