William Hill: Caesars Palace-owner in 'Advanced' Talks over ₤ 2.9 Bn Offer
William Hill: Caesars Palace-owner in 'sophisticated' talks over ₤ 2.9 bn offer
Caesars Entertainment, the Las Vegas casino-owner, states it is in innovative takeover talks with William Hill over a possible ₤ 2.9 bn quote for the bookmaker.
The US firm said William Hill's board had indicated it is minded to suggest its cash deal of 272p a share.
William Hill has actually likewise received a takeover approach from US private equity firm Apollo.
But Caesars said if William Hill selected Apollo, it would jeopardise a joint venture between the business.
Caesars chief executive Tom Reeg stated: "The chance to integrate our land based-casinos, sports betting and online video gaming in the US is a truly interesting possibility.
"William Hill's sports wagering knowledge will complement Caesars' existing offering, enabling the combined group to better serve our consumers in the quick growing US sports wagering and online market."
On Friday, William Hill confirmed that it had actually gotten 2 takeover approaches, which sent its share cost skyrocketing by 42% to 312p.
Caesars said its deal was nearly 58% greater than William Hill's share cost on the day before the US business made its very first method on 2 September.
It added it was also above the betting company's share rate on Thursday last week, before its disclosure of the 2 approaches caused its share rate to rise.
But David Cumming, primary financial investment officer for equities at Aviva Investors, said offers for William Hill might overtake the 312p level its shares ended at on Friday.
William Hill: Caesars Palace-owner in 'sophisticated' talks over ₤ 2.9 bn offer
Caesars Entertainment, the Las Vegas casino-owner, states it is in innovative takeover talks with William Hill over a possible ₤ 2.9 bn quote for the bookmaker.
The US firm said William Hill's board had indicated it is minded to suggest its cash deal of 272p a share.
William Hill has actually likewise received a takeover approach from US private equity firm Apollo.
But Caesars said if William Hill selected Apollo, it would jeopardise a joint venture between the business.
Caesars chief executive Tom Reeg stated: "The chance to integrate our land based-casinos, sports betting and online video gaming in the US is a truly interesting possibility.
"William Hill's sports wagering knowledge will complement Caesars' existing offering, enabling the combined group to better serve our consumers in the quick growing US sports wagering and online market."
On Friday, William Hill confirmed that it had actually gotten 2 takeover approaches, which sent its share cost skyrocketing by 42% to 312p.
Caesars said its deal was nearly 58% greater than William Hill's share cost on the day before the US business made its very first method on 2 September.
It added it was also above the betting company's share rate on Thursday last week, before its disclosure of the 2 approaches caused its share rate to rise.
But David Cumming, primary financial investment officer for equities at Aviva Investors, said offers for William Hill might overtake the 312p level its shares ended at on Friday.