William Hill ups guidance after suitors lose interest

Shares in British betting services giant William Hill rose sharply, yesterday, on the back of it upping its full-year earnings guidance shortly after suitors ended their interest in buying the company.

Joint bidders Rank and 888 Holdings formally pulled the plug on their recently revised £3.6bn (€4.2bn) bid for William Hill late on Thursday, still adamant that a successful deal would have created “a transformational force” in the global betting and gaming industry and unlocked “substantial cost and revenue synergies”.

William Hill had rejected the bid, believing it undervalued its business, and said this week that it saw no merit in engaging with its suitors. Yesterday, the company maintained its confidence of fulfilling an improved digital offering and international expansion led growth plan.