William Hill reject revised bid from 888 and Rank

William Hill have rejected a second bid from Rank and 888 they said substantially undervalued the companyCredit: Mark Cranham

William Hill on Monday rejected a second £3 billion-plus offer from smaller rivals Rank and 888 Holdings, telling them they saw "no merit" in engaging with the consortium.

Hills' chairman Gareth Davis said the sweetened bid still substantially undervalued the bookmaker, although the two sides dispute how much the new offer is worth.

Last week William Hill rejected a "highly opportunistic" bid they said was worth 339p a share from Rank and 888 and claimed the new offer was worth 352p a share.

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Bill BarberIndustry editor

Published on 15 August 2016inNews

Last updated 15:02, 15 August 2016

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