William Hill 888 Takeover Talks Fail

William Hill 888 Takeover Talks Fail

Monday, 16 February 2015

Potential takeover talks between British bookmaking giant William Hill and online rival 888 have fallen through.

888 confirmed that it had received an approach from Hills last week with reports suggesting that a bid of over £700m (200p per share) was in the offing.

Talks stalled though following what 888 described as “a significant difference of opinion with a key stakeholder.”

A report in The Times last week quoted an unnamed industry source as saying that one of 888's founders was holding out for 300p per share. The stakeholder in question is believed to be the Shaked family.

In a statement released this morning, 888 said, "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."

William Hill shares are up 0.94% on the day with 888 Holdings down 11.95% following the latest news.

Tags: 888Poker, William Hill, business