A revised bid for bookie William Hill (WMH) by its rivals 888 (888) and Rank Group (RNK) still represents "substantial risk", according to the target's board.
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The bid by the duo only represents a 12 per cent premium to the 314p share price the William Hill stock traded at when news first emerged of a mooted deal in July. The group said the proposal was "highly complicated" given the three parties involved and estimated cost synergies would only be achieved by the end of 2020.