10th Feb 2015 14:55
LONDON (Alliance News) - 888 Holdings PLC shares continued to rise on Tuesday after it confirmed it has received an approach from William Hill PLC regarding a potential takeover offer for the company.
888 Holding shares were up 22% to 176.70 pence per share on Tuesday afternoon.
888 Holdings said there can be no certainty a firm offer will be made, and said it will update shareholders as the potential deal develops.
Earlier on Tuesday, the Financial Times reported 888 had held talks with William Hill PLC over a possible takeover bid, and said the two parties had reached a preliminary deal on a 210 pence per 888 share deal, which would value 888 at GBP744.3 million.
But The Times newspaper said one of the founding families behind 888, understood to be the Shaked family, is holding out for 300 pence per share.
By Joshua Warner; [email protected]; @JoshAlliance
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Related Shares:
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