William Hill has confirmed that it has received a highly conditional proposal from 888 and Rank Group regarding a potential combination of the three operators, although the company’s board has unanimously rejected the offer.

The proposal would see 888 and Rank merge with 888 acting as the acquiring entity to create BidCo, which would offer to acquire William Hill for cash and newly issued shares in BidCo.

888 shareholders would own 46.5 per cent of BidCo and Rank shareholders would own 53.5 per cent, prior to the proposed acquisition of William Hill.

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