Evoke, parent of William Hill and 888, confirmed takeover discussions with Bally’s Intralot on a proposed 50p-per-share offer valuing the FTSE 250 group at £225.3m. The proposal is structured as an all‑share combination with a partial cash alternative, represents ~29% premium to Evoke’s recent close, and sent Evoke shares up ~16%. Under UK listing rules Bally’s Intralot has until 5 p.m. on May 18 to announce its intentions. Evoke warned there is no certainty an offer will be made; the company has ~£1.8bn of lender exposure, is closing ~200 betting shops, and faces higher gambling duties next year.

The article reports a concrete proposed 50p-per-share offer valuing Evoke at £225.3m and a ~29% premium, and notes Evoke shares rose ~16% on the news — facts that are directly market-moving. It also states there is no certainty an offer will be made and cites substantial lender exposure (~£1.8bn) and regulatory-driven cost pressures, which temper the bullish case.