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888 and William Hill end takeover talks

Reuters - UK Focus

LONDON, Feb 16 (Reuters) - Online gambling company 888 Holdings said discussions concerning a takeover by Britain's biggest bookmaker William Hill (Other OTC: WIMHY - news) had ended after talks broke down over price with a key stakeholder.

888, whose shares had jumped more than 20 percent last week after talks between the two companies were confirmed, said on Monday it had discussed a possible recommended offer from William Hill valued at 200 pence plus a 3p dividend per share.

"Due to a significant difference of opinion on value with a key stakeholder, it has not been possible to reach agreement on the terms of a possible offer and the board of the company has agreed with William Hill to terminate discussions," 888 said.

(Reporting by Neil Maidment; Editing by Kate Holton)