William Hill reject second 888 and Rank offer to merge

William Hill: takeover bid rejected after 'significantly undervaluing' the firm

William Hill rejected a second joint-offer from 888 Holdings and the Rank Group to merge the three companies on Sunday, saying the revised proposal continues to "significantly undervalue" the high street bookmaker.

The bid comes after William Hill firmly rejected an offer on August 8, which had an estimated value of 339p per share, with the latest offer carrying an estimated value of 352p per share according to the firm.

However, 888 and the Rank Group claim the closing price of the former's share price on August 5 values the offer at 394p per William Hill share.

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Mark ScullyRacing Post Reporter

Published on 15 August 2016inNews

Last updated 10:40, 15 August 2016

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