UK-listed gambling operator William Hill has made a SEK2.82b (US$306.7m) offer to acquire online gambling operator MRG (formerly Mr Green).

On Wednesday, Hills announced that it had submitted an offer to buy the Stockholm-listed MRG at a price of SEK69 ($7.50) per share, representing a 48.5% premium on MRG’s share price at the close of Tuesday’s trading on the Nasdaq Stockholm.

At the same time, MRG’s board of directors issued a statement saying it had unanimously recommended that its shareholders accept the deal. Seven MRG shareholders, who hold a combined 40% stake in the company, have indicated their willingness to make the deal.

An official offer document will be published at the beginning of December, with the acceptance period expected to commence on December 10 and end by January 11, 2019. The deal is subject to the usual regulatory approvals in the companies’ respective markets.