William Hill rejects €4.2bn joint takeover offer from rival firms

British bookmaker William Hill has rejected a £3.6bn (€4.2bn) joint takeover offer from rival betting services firms Rank and 888 Holdings, saying the approach “substantially undervalues” its business.

Interest from Rank and 888 had been reported last month and William Hill yesterday confirmed that it had received an unsolicited bid aimed at combining the three entities.

Rank switched its focus from films and cinema to the gaming industry 10 years ago and now focuses on online gaming, casino ownership and bingo clubs, through its ownership of leading UK brand Mecca Bingo.