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

A William Hill bookmaker store is seen in London, Britain July 21, 2016. REUTERS/Peter Nicholls/File Photo

LONDON (Reuters) - British bookmaker William Hill WMH.L said it remained firmly opposed to engaging with 888 Holdings 888.L and Rank Group RNK.L after the two companies set out more details of their unsolicited 3.16 billion pound 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.

Reporting by Paul Sandle; editing by Kate Holton