BUZZ-William Hill: rallies after guidance hike; Rank, 888 abandon pursuit

** Rank and 888 end efforts to take over William Hill (Frankfurt: 633847 - news) on Thursday, days after a revised offer was rejected

** William Hill +3.3%, top FTSE 250 riser in volume; co said after market close Thursday it sees FY operating profit at top end of guidance

** Liberum edges up PT to 323p (v 319p) to reflect guidance hike

** Broker never felt now failed merger bid delivered either value for WMH shareholders or clear commercial logic (though says possibility of major synergy benefits - £100m in the case of the lapsed deal - cannot be ignored)

** Broker says debate on synergies or indeed strategy at William Hill may not be over

** William Hill shares have dived by a quarter since start-March peak; gambling faces higher taxes and tighter regulation, and a series of mergers has intensified competition as firms market themselves to younger sports fans betting via mobile apps

** Rank shares +2.5%, 888 +3.2% (RM (LSE: RM.L - news) : rahul.b.thomsonreuters.com@reuters.net)