William Hill acquires MRG shares

The move follows a recent €270 million offer to acquire the company to boost digital channels.

UK.- William Hill has revealed that its controlled affiliate William Hill Holdings Limited announced a recommended public cash offer to the shareholders of Mr Green (MRG) to tender all their shares to the company at a price of €6.7 in cash per share.

The company revealed that the shares in MRG are admitted to trading on Nasdaq Stockholm and that William Hill has agreed to purchase 1,913,266 shares, corresponding to approximately 4.7%  of all outstanding shares in MRG at a price per share of €6.7 in cash.

The move followed a €270 million offer to acquire MRG, in order to strengthen the company’s international business and drive further online presence. While the transaction is subject to acceptance from MRG shareholders and anti-trust approvals it is expected that completion will take place in January 2019. The acquisition is expected to be accretive to earnings from the first full year of ownership before synergy benefits, and achieve returns above William Hill’s cost of capital. It would also give William Hill access to an international hub from which to drive international growth together with deeper operational expertise in new markets.