High profile UK bookmaker William Hill Plc has announced that it has obtained all of the necessary regulatory approvals for its proposed €270million purchase of the Stockholm-listed MRG Group, which includes well-known betting brand Mr Green.  

The acquisition, which has now been formally approved by the board of MRG was first proposed at the end of October last year as part of William Hill’s attempts to boost its presence in European regulated markets, while also obtaining an established brand in the profitable Nordic markets. 

William Hill’s offer has now been passed on to all MRG investors, who have until January 17 to review and vote on the takeover offer. 

The bid by William Hill amounted to a 49% premium on MRG’s closing stock price in October, and the company was so confident that the acquisition would go ahead that they announced the appointment of new Group Chief Digital Officer Ulrik Bengtsson – the one time CEO at Betsson – as head of the project to integrate MRG assets with William Hill.  

At the end of 2018, the William Hill Group CEO, Philip Bowcock, said that the Group’s new executive team would be focused on diversification and spreading the brand into new markets globally. The shift to focusing on other regulated markets, of which the MRG deal is an indication, has been prompted partly by a tougher regulatory environment in the UK.

Published by Marcus Holland

Marcus Holland is a professional betting and financial trading writer. He has been published on various leading websites including The Street, Investing.com, Wagered.com, and Futures Mag. You can contact Marcus at marcus@bettingreporter.com.

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