William Hill: Caesars Palace-owner in 'Innovative' Talks over ₤ 2.9 Bn Offer
William Hill: Caesars Palace-owner in 'advanced' talks over ₤ 2.9 bn offer
Caesars Entertainment, the Las Vegas casino-owner, says it is in sophisticated takeover talks with William Hill over a possible ₤ 2.9 bn bid for the bookmaker.
The US company said William Hill's board had indicated it is minded to recommend its money offer of 272p a share.
William Hill has likewise gotten a takeover method from US private equity company Apollo.
But Caesars stated if William Hill selected Apollo, it would jeopardise a joint venture between the business.
Caesars president Tom Reeg said: "The chance to combine our land based-casinos, sports wagering and online video gaming in the US is a genuinely exciting prospect.
"William Hill's sports wagering knowledge will complement Caesars' current offering, making it possible for the combined group to better serve our consumers in the fast growing US sports betting and online market."
On Friday, William Hill confirmed that it had received 2 takeover methods, which sent its share price skyrocketing by 42% to 312p.
Caesars said its offer was almost 58% greater than William Hill's share rate on the day before the US company made its very first technique on 2 September.
It added it was also above the betting company's share rate on Thursday recently, before its disclosure of the 2 techniques triggered its share rate to rise.
But David Cumming, primary financial investment officer for equities at Aviva Investors, stated deals for William Hill could outstrip the 312p level its shares ended at on Friday.
William Hill: Caesars Palace-owner in 'advanced' talks over ₤ 2.9 bn offer
Caesars Entertainment, the Las Vegas casino-owner, says it is in sophisticated takeover talks with William Hill over a possible ₤ 2.9 bn bid for the bookmaker.
The US company said William Hill's board had indicated it is minded to recommend its money offer of 272p a share.
William Hill has likewise gotten a takeover method from US private equity company Apollo.
But Caesars stated if William Hill selected Apollo, it would jeopardise a joint venture between the business.
Caesars president Tom Reeg said: "The chance to combine our land based-casinos, sports wagering and online video gaming in the US is a genuinely exciting prospect.
"William Hill's sports wagering knowledge will complement Caesars' current offering, making it possible for the combined group to better serve our consumers in the fast growing US sports betting and online market."
On Friday, William Hill confirmed that it had received 2 takeover methods, which sent its share price skyrocketing by 42% to 312p.
Caesars said its offer was almost 58% greater than William Hill's share rate on the day before the US company made its very first technique on 2 September.
It added it was also above the betting company's share rate on Thursday recently, before its disclosure of the 2 techniques triggered its share rate to rise.
But David Cumming, primary financial investment officer for equities at Aviva Investors, stated deals for William Hill could outstrip the 312p level its shares ended at on Friday.