Bookie’s shares leap over deal

WILLIAM Hill shares jumped 15¼p to 328¾p after an approach from gaming groups Rank and 888 Holdings to join forces.

The bookmaker is seen as vulnerable to a bid after chief executive James Henderson left last week as it looks to turn around its online business.

Rank and 888 said there was “significant industrial logic” in the near-£5billion combination but no formal approach has been made. Hill said it would “listen to and consider” any proposal, but added: “It is not clear that a combination will enhance William Hill’s strategic positioning or deliver superior value to its strategy, which is focused on increasing the group’s diversification by growing its digital and international businesses.”

Cenkos leisure analyst Simon French said: “William Hill shareholders are likely to be cautious about the merits of any deal.”