Online gaming company 888 Holdings has confirmed in a statement that William Hill, the UK’s largest bookmaker, has made an approach to acquire the firm.
Following the news, the value of 888 shares leapt 20 per cent – valuing the company at around £750m.
In the statement, 888 said: “The board of the company confirms that it received an approach regarding a possible offer for the company by William Hill.”
A report in The Times said William Hill had reached a “preliminary agreement” with the 888 board over a 210p a share offer, but that one of 888's major investors wanted more.
The 888 statement added that there can be “no certainty” that a firm offer will be received from William Hill, but that 888 would make a further announcement within 28 days.
