888 and William Hill end takeover talks

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Online gambling company 888 Holdings said discussions concerning a takeover by Britain’s biggest bookmaker William Hill had ended after talks broke down over price with a key stakeholder.

888, whose shares had jumped more than 20 per cent last week after talks between the two companies were confirmed, said it had discussed a possible recommended offer from William Hill valued at 200 pence plus a 3p dividend per share.

“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,” 888 said.