The mooted takeover of 888 Holdings by William Hill, worth an estimated £700m, is off following objections from a major 888 shareholder.
In a statement 888 said: “Due to a significant difference of opinion on value with a key stakeholder, it has not been possible to reach agreement on the terms of a possible offer and the board of the company has agreed with William Hill to terminate discussions.”
Last week, 888 said it was considering an offer of 200p a share from William Hill – news that saw shares in 888 leap more than 20 per cent to 186p.
As news of the deal collapse filtered through this morning, shares in 888 fell to 142p before recovering to 150p by 11am.
