After long negotiations and months of waiting, 888 shareholders finally approve the acquisition of non -American activities by William Hill.
The idea of the acquisition was already in the air for almost a year, and we talked about it in this article, but now the decision has been made for a value of $ 2.29 billion (1.95 billion pounds).
But let's go to this article immediately What the shareholders said on May 16th, the day they approved the acquisition.
The reasons why 888 shareholders approve the acquisition of non -American activities by William Hill
First of all, the shareholders of 888 approve the acquisition of the non -American activities of Willim Hill as, the latter, the latter, They are much larger than the current business of 888null The acquisition, therefore, is Considered an reverse acquisition, and from here the reason why the shareholders of 888 had to be approved.
The timing lasted so long because In the meantime, the regulatory and macroeconomic context has changednull For example, William Hill's license in the UK is being reviewed, and there are possibilities, even if minimal, which is not approved.
Given these considerations, therefore, The amount of the acquisition has changed and has been reduced by 15 million pounds.
The benefits of the acquisition
The acquisition of William Hill approving the shareholders of 888 will have, according to the company, of long -term benefits.
The first is that with the new dimensions of the company 888 can potentially avoid possible restrictions on marketing and advertising.
Then, this acquisition also offers the possibility of 888 to have An opportunity omni channel in the United Kingdom.
And, to conclude, the company expects to see a saving of at least 100 million pounds per year by 2025.
The statements of 888 after his shareholders approve William Hill acquisition
For 888, after the shareholders approve the acquisition of William Hill, The non -executive president of the company spoke.
Lord Mendelsohn he said: “We are happy with the support of our shareholders to our acquisition proposal by William Hill. DWe exist thank them for their continuous and constructive commitment in the context of this process”.
And he added: “We are impatient to complete this acquisition transformative at the end of June, creating a global leader in the betting and online game sector. This is thanks to the combination of two highly complementary activities and two leading brands in the sector ".