William Hill offers £750m to acquire 888 - report

Avi Shaked

"The London Times" says the Shaked family is holding out for nearly 50% more for the online gambling company.

The UK's largest bookmakers William Hill plc (LSE: WMH) is in advanced talks to buy Israeli online gambling company 888 Holding plc (LSE:888) for £750 million, the "London Times" reports.

The report claimed that a framework agreement between William Hill and 888 had been reached for £2.10 per share. The "London Times" added that both the Shaked and Ben-Yizhak families, which own 60% of 888's shares, had been offered their choice of cash or shares. However, the Shakeds are said to be holding out for as much as £3 per share.

In recent weeks, William Hill had been linked with a move for Bwin.party to expand its online gambling presence.

Both 888 and William Hill declined to comment. 888's shares were up 23% in London to £1.73 at 5.30 pm Israeli time, giving a market cap of £615 million.

Published by Globes [online], Israel business news - www.globes-online.com - on February 10, 2015

© Copyright of Globes Publisher Itonut (1983) Ltd. 2015

Twitter Facebook Linkedin RSS Newsletters גלובס Israel Business Conference 2018