British betting giant Evoke confirms media reports that discussions are being held with Ballys Intralot about a possible takeover bid, according to a press release.
ANNONS
The bid is said to be at 50 pence per share and is expected to include payment in shares, with a partly cash alternative.
The company says there is no guarantee that an offer will be made or on what terms.
Evoke’s announcement comes after The Times reported that the parties are in advanced talks about a takeover of Evoke under a “rescue deal”. Ballys is said to have been granted the status of informal preferred bidder by Evoke after a sales process that began in December.
Evoke is under pressure from debts of around 1.7 billion pounds compared with a market capitalization of around 160 million pounds. The company owns well-known brands such as William Hill, 888 and Mr Green.
