Bookies in merger talks
William Hill facing joint £3 billion takeover bid
Hill is facing tough online competition and parted company last week with chief executive James Henderson.
Merging with 888 and Rank would create a £3 billion- plus gambling giant and represent the latest big shift in a sector which has undergone a series of mergers.
Paddy Power and Betfair joined forces and the tie-up between Ladbrokes and Gala Coral is awaiting clearance from the competition authorities.
888 and Rank said they were “evaluating a possible offer” but the two firms see “significant industrial logic in the combination”.
Hill’s online net revenues fell 11% in the 17 weeks to 26 April and its shares have dropped 21% since the start of the year, valuing the former FTSE 100 firm at £2.7 billion.