Online gaming operator 888 has ended talks regarding a possible takeover by UK bookmaking giant William Hill.
The operator last week confirmed it had entered into discussions with William Hill over a potential deal, but said it had not yet received a formal offer.
Reports in the media had linked William Hill with a takeover bid that would have valued 888 at approximately £750 million (€1 billion/$1 .1 billion).
However, the operator has now announced that having held a number of preliminary discussions with William Hill, during which 888 was valued at 200 pence plus a 3 pence dividend per share, talks have now ended.
In a statement, William Hill said the talks unearthed a “significant difference of opinion on value with a key stakeholder” and that it had not been possible to reach an agreement on the terms of a possible offer.
Brian Mattingley, chief executive officer of 888, added: “The company is in good health and continues to trade comfortably in line with expectations.
“The company will announce its full year results on March 24 and the board of the company looks forward to the future with confidence.”
source : www.igamingbusiness.com
