William Hill has made an offer to acquire Mr Green (MRG) with plans to increase its international presence, revenue mix and strengthen its leadership in sustainability.
The offer, announced earlier today, is for SEK69 in cash per share in MRG, which implies a total consideration of roughly SEK2,819m, equivalent to £242m.
An official document is to be published at the beginning of December, with the acceptance period to run between December 10 to January 11 and the aim of closing the deal soon after.
The merge of MRG into William Hill plc will be led by Hills’ chief digital officer Ulrik Bengtsson, who was previously the CEO of Betsson.
Speaking on this, Philip Bowcock, William Hill CEO, said: “This proposed acquisition accelerates the diversification of William Hill – immediately making us a more digital and more international business. MRG will provide William Hill with an international hub in Malta with market entry expertise and strong growth momentum in a number of European countries. William Hill will move from a single brand to a suite of brands that can maximise growth opportunities moving forward in new and existing markets.”
Founded back in 1934 when gambling was illegal in Britain, William Hill has grown to become a household name in online betting, serving over 175 countries. The company was floated on the London Stock Exchange back in 2002 and the potential of this acquisition will only see it grow further. Find out more about ‘the home of betting’ in our William Hill review.