888 shareholders approve proposed William Hill International acquisition

Shareholders in 888 Holdings have unanimously approved the company’s proposed acquisition of William Hill’s non-US business.

At an Extraordinary General Meeting held in London earlier Monday, a resolution to approve the purchase under the terms set out in the Sale and Purchase Agreement was approved by 99.73 per cent of the shareholder votes cast, with 306,997,411 votes in favour, and 819,264 votes against (and 18,306 withheld).

After receiving antitrust and gaming regulatory approvals last year, completion of the acquisition is now expected to occur on or around 30 June.

“We are delighted with the support of our shareholders for our proposed acquisition of William Hill and would like to thank them for their continued, constructive engagement as part of this process,” said 888 chairman Lord Mendelsohn.

“We look forward to completing this transformational acquisition at the end of June, creating a global online betting and gaming leader through the combination of two highly complementary businesses and two of the industry's leading brands."

As the proposed acquisition is classified as a reverse takeover under the UK’s Listing Rules, 888’s shares will be cancelled and re-admitted for listing on the main market of the London Stock Exchange on or around 30 June.

Shares in 888 Holdings plc (LSE:888) were trading 2.29 per cent lower at 187.70 pence per share in London earlier Monday, 6.89 per cent above its 52-week low of 175.60p set on 6 May.