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William Hill Makes Offer To Acquire MRG

Irving Hayes - 01 Nov 2018

William Hill Makes Offer To Acquire MRGThe future is digital, and ultimately, size really does matter. A stronger digital footprint and strength in pooling resources in the international arena, are two of the main reasons provided by sportsbetting giant William Hill after it announced that it had made known its intentions of acquiring MRG (Mr Green). According to reports, an offer of SEK2.82 billion (£242 million) is officially on the table, which, when broken down into the individual values of offer-per-share, equates to an offer of SEK69 per share.

In the meantime, the board of directors at MRG have recommended that shareholders accept William Hill’s offer, as the acquisition would go a long way towards establishing a larger presence in what it refers to as a modern market.

MRG Chairman Kent Sander has confirmed that 40.4% of MRG shareholders have already signed agreements backing William Hill’s bid to acquire the group.

Mutual Backing For The Move

The sportsbetting giant, not currently in possession of any MRG shares, made the offer to acquire the group via an affiliate controlled by William Hill Holdings. An official offer is expected to be published by both companies towards the beginning of December, after which the acceptance period will get underway. Both entities have expressed the hope that the acceptance process will be ready to run from December 10th to January 11th, 2019. The deal will then be finalised early in the new year.

If all goes according to plan, the integration of MRG will be managed and overseen by Ulrik Bengtsson, Chief Digital Officer at William Hill. Bengtsson has been selected as the best man for the job due to his extensive experience in working with Nordic online gaming operations during his time at Betsson.

Deal Will Digitally Transform

Chief Executive Officer at William Hill, Philip Bowcock, said the value of the acquisition was that it would immediately transform the sportsbetting giant into a more digital business, as well as giving it an international edge by converting it from a single brand into a suite of brands.

Bowcock said that the fact that MRG would provide the company with an international hub in Malta, ensuring entry into a variety of European countries, would serve the business well in terms of international growth.

Sources:

http://www.igamingbusiness.com/