888 Holdings and The Rank Group said they’re considering a joint takeover offer for bookmaker William Hill.
In a statement, the two gambling companies said they saw benefits to merging their in-store and online operations.
In a separate statement, William Hill said it received a “highly preliminary” approach from 888 and Rank over the weekend regarding a potential combination, and would listen to any proposal, yet said it wasn’t clear if such a combination would enhance its position in the industry.
Maidenhead-based Rank and Gibraltar-based 888 need to formally announce their intention to make an offer or walk away by 5 pm on 21 August, under UK takeover rules.
© Bloomberg
