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William Hill sees nothing in 888-Rank approach to merit talks

Reuters - UK Focus

LONDON, Aug 11 (Reuters) - British bookmaker William Hill (Other OTC: WIMHF - news) said it remained firmly opposed to engaging with 888 Holdings and Rank Group after the two companies set out more details of their unsolicited 3.16 billion pound ($4.11 billion) approach.

"The Board of William Hill continues to believe that the proposal is highly opportunistic and does not reflect the inherent value of the group," the company said on Thursday.

Casino and bingo hall operator Rank and online gambling group 888 said on Wednesday the combination would create Britain's largest multi-channel gambling operator by revenue and profit, and result in cost savings of 100 million pounds a year. ($1 = 0.7689 pounds) (Reporting by Paul Sandle; editing by Kate Holton)