High street bookie William Hill (WMH) will look to bump up its online operation by picking up rival group 888 (888) in a deal worth £700m. While no financial information has been disclosed and talks are ongoing, rumour has it that William Hill could make an offer in excess of 200p a share. On Tuesday, when news of the potential tie-up emerged, shares in 888 rose by nearly 20 per cent. Even so, that left the company with a market cap of £600m, implying William Hill is willing to pay a significant premium.
IC TIP:
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381p
