William Hill set to Takeover 888 in €1 Billion Transaction

Published on 13 February 2015 by Rhi

William Hill set to Takeover 888 in €1 Billion TransactionOnline casino giant 888 has publicly confirmed that they are in talks with William Hill regarding the UK bookmaker taking over. There is no definite offer yet on the table, however it’s estimated that 888 would be valued at around €1 billion. This estimate may be somewhat of a stretch however, after it was valued at a significantly lower €200 million back in 2011 when Ladbrokes looked into a takeover. 888 has continued to grow since then, however the increase seems a little steep. The bid, if William Hill make one, might not be equal to the companies value however and more about what 888 is worth to them in the long run.

Talks like this can only be released once pretty certain as they have a tendency to affect things like share price, as seen by an almost 20% jump in 888 Holdings. The firms continue to remain cagey, not giving anything away;

“The board of the company confirms that it received an approach regarding a possible offer for the company by William Hill PLC.

There can be no certainty, however, that any firm offer will be made nor as to the terms on which any firm offer might be forthcoming.

The company’s shareholders will be kept informed of relevant developments and a further announcement will be made as appropriate, but in any event by no later than 28 days from the date of this announcement.”
– A spokesperson for 888