William Hill agrees ₤ 2.9 bn takeover by Caesars Palace owner
Caesars Entertainment, the Las Vegas casino-owner, has actually struck a ₤ 2.9 bn offer to take control of UK wagering company William Hill.
The boards of the US firm and William Hill agreed a cash bet9ja's welcome offer of 272p a share subject to investors enacting favour.
US private equity company Apollo had also tried to take control of William Hill.
But Caesars said that if the UK business selected Apollo, it would jeopardise a joint venture between them.
Caesars owns a 20% stake in William Hill's US operations, which also have special rights to run sports wagering under the Caesars brand.
The US company, which owns Caesar's Palace in Las Vegas, is particularly thinking about William Hill's US bookmaking business which currently has 170 retail sites in 13 various states.
In August William Hill stated it would not be reopening 119 of its UK High Street wagering shops after the yohaig code coronavirus shutdown, stating it did not anticipate clients to return in the numbers seen before the yohaig code pandemic.
William Hill stated its directors would "unanimously and unconditionally" suggest that shareholders accept the bet9ja's welcome offer.
The Caesars Palace owner intends to discover other owners for William Hill's non-US businesses, including its more than 1,400 UK wagering stores.
It stated it would incorporate the US business into Caesars with very little job cuts.
The agreement comes right after William Hill said it was inclined to suggest Caesars' deal.
Roger Devlin, chairman of William Hill, stated: "The William Hill board thinks this promotion code is the yohaig code finest option for William Hill at an appealing cost for investors."
Caesars chief executive Tom Reeg said: "the yohaig code opportunity to combine our land based-casinos, sports wagering and online video gaming in the US is a really amazing possibility."
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