William Hill and 888 Acquisition Talks End Abruptly
Last week Lord Bingo reported on a massive potential acquisition deal in the gaming industry that could have seen gaming giant William Hill acquire online casino titan 888 Holdings. There was plenty of speculation over the outcome of the deal, with share prices for 888 stock rising 23% at the peak of the hysteria.
The excitement was largely due to anticipation of 888 being acquired for a figure rumoured to be as high as £750 million. 888's confirmation that William Hill did in fact make an offer added fuel to fire, although statements were released saying that the deal was not certain.
In spite of all of the talk and commotion, cold water has now officially been thrown on all hopes of a deal. News broke early this week that the acquisition deal will not go through after all. According to insider sources, a disagreement concerning the valuation of 888 from one of the key stakeholders led to an abrupt termination of the potential deal.
In follow up to the end of acquisition talks with William Hill, 888 CEO, Brian Mattingley stated that “The company is in good health and continues to trade comfortably in line with expectations. The company will announce its full year results on 24 March 2015 and the board of the company looks forward to the future with confidence.”