William Hill in betting takeover spat with Rank and 888
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Bookmaker William Hill has actually once again firmly rebuffed 888 Holdings and Rank Group, after the latter reiterated the case for their unsolicited ₤ 3.16 bn deal.

After Rank and 888's deal was declined, external on Tuesday, the duo re-stated their bet9ja's welcome offer, externalfor William Hill the next day.

They said their proposition was "an engaging worth production chance for William Hill and its shareholders".
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But William Hill says there is no merit in appealing, external on the basis of a proposition that "significantly underestimates" it.
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Gareth Davis, chairman of William Hill, added: "In addition, as we have actually stated before, this proposal is extremely opportunistic, complex and postures substantial risk for our shareholders."

'Highly complicated'
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Casino and bingo hall operator Rank and online gambling group 888 had stated on Wednesday that the proposed brand-new mix would develop the UK's largest multi-channel betting operator by profits and earnings.
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They also stated it would result in cost savings of ₤ 100m a year.
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Any offer would the UK's third-largest online wagering group with incomes of ₤ 2.7 bn.

But in its newest rebuff, William Hill stated the proposal included "an extremely made complex three-way mix at a very low premium".

In addition, it said there was "significant risk for William Hill shareholders in the achievement of the projected future expense synergies, which are just expected to be accomplished completely by the end of 2020".

And it stated it would leave the combined group running with "considerably increased leverage of around ₤ 2.2 bn, bring a much higher interest charge".

On Thursday William Hill shares were up 2.3% at 332 cent. Shares in Rank were up 0.1% at 207.90 cent, and shares in 888 were down 2.07% at 212.50 cent.
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The bet9ja's welcome offer would indicate 888 taking over Rank, with the newly formed business then buying William Hill.

The bet9ja's welcome offer of 364p a share to William Hill investors is made up of 199p in money and 0.725% per share in the brand-new company, BidCo.
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Rank and 888 argue that its business strategy would increase the new company's worth to up to 408p a share - or ₤ 3.6 bn.

Other mergers in the industry have consist of Ladbrokes and Coral signing a ₤ 2.3 bn merger in July and Paddy Power and Betfair joining forces in September.

Earlier this promotion code month William Hill reported a 1% increase in profits in the first half of the year, stating that strong demand throughout the Euros football tournament had offset bad online sales and what it called "the worst Cheltenham results in current history".