888 Holdings and Rank Group got a negative reply from William Hill on the question of acquisition

William Hill company - one of the biggest online sportsbook worldwide - has declined 888 Holding and Rank Group acquisition offer. The syndicate intended to buy a company for £3.2bn. This information was spread by a Bloomberg source.

The potential acquirer price was 364 pence for a share, 45% of them are to build a new company. The amount, offered for a share, is exceeding the current one by 16%, still William Hill’s owners consider the suggestion to be not enough.

The chairman of the company, Gareth Davis, considers, that making this suggestion 888 Holdings and Rank Group really underestimate William Hill. The money they offer does not show the true price of the company.

The leading specialist at Investec, London, expects that the counterparts of the deal will soon get back to the negotiations, still the future acquirers will may lack the funds to purchase William Hill. He supposes as well, that the syndicate will have to offer 400 pence per share to get an accept.

At the moment the price of a 888 Holdings share was reduced by 1,9% (to 219,25 pence), whereas the share of Rank Group shortened by 0,9% (to 211 pence).