888 to complete William Hill acquisition “on or around” 30 June

By Gambling Insider

888 expects to complete its takeover of William Hill sometime “on or around” 30 June 2022, it said, after shareholders overwhelmingly approved the acquisition.

During an Extraordinary General Meeting (EGM) of the company, 888 shareholders voted on the proposed acquisition, with nearly 307 million votes cast in favour of the move.

This represents more than 99% of all votes cast. By comparison, 819,264 were cast against, constituting only 0.27%, while 18,306 votes were withheld.

But more importantly, with shareholders’ approval secured, the company has entered the final chapter of an almost nine-month long saga.

888 won the auction for William Hill’s European business back in September 2021, when it saw off all competition with a £2.2bn ($2.7bn) bid.

And in a few weeks’ time, this venture will soon bear fruit; 888 expects to finalise its takeover of William Hill by the end of next month.

This will come alongside the readmission of the company’s entire share capital on the premium listing segment of the FCA’s Official List, and to trade on the main market of the London Stock Exchange.

Lord Mendelsohn, Non-Executive Chairman of 888 Holdings, commented: “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.

“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.”

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