William Hill: Caesars Palace-owner in 'Sophisticated' 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 remains in advanced takeover talks with William Hill over a possible ₤ 2.9 bn bid for the bookie.
The US firm said William Hill's board had actually shown it is minded to suggest its money deal of 272p a share.
William Hill has also gotten a takeover method from US personal equity company Apollo.
But Caesars said if William Hill selected Apollo, it would jeopardise a joint venture in between the business.
Caesars president Tom Reeg said: "The chance to combine our land based-casinos, sports betting and online gaming in the US is a really exciting possibility.
"William Hill's sports betting expertise will complement Caesars' existing offering, enabling the combined group to better serve our customers in the fast growing US sports wagering and online market."
On Friday, William Hill verified that it had actually received 2 takeover methods, which sent its share rate skyrocketing by 42% to 312p.
Caesars stated its deal was nearly 58% higher than William Hill's share rate on the day before the US business made its first method on 2 September.
It added it was also above the wagering business's share rate on Thursday last week, before its disclosure of the two methods triggered its share price to rise.
But David Cumming, primary investment officer for equities at Aviva Investors, said deals for William Hill might overtake the 312p level its shares ended at on Friday.
He told the BBC's Today programme: "The view is - and we do hold some William Hill so it [has] some interest here - the 40% increase on Friday, given comparative evaluations in the US, it is possible that the bid is available in at a higher level than the closing cost we saw then so there still might be some advantage.
William Hill: Caesars Palace-owner in 'advanced' talks over ₤ 2.9 bn offer
Caesars Entertainment, the Las Vegas casino-owner, says it remains in advanced takeover talks with William Hill over a possible ₤ 2.9 bn bid for the bookie.
The US firm said William Hill's board had actually shown it is minded to suggest its money deal of 272p a share.
William Hill has also gotten a takeover method from US personal equity company Apollo.
But Caesars said if William Hill selected Apollo, it would jeopardise a joint venture in between the business.
Caesars president Tom Reeg said: "The chance to combine our land based-casinos, sports betting and online gaming in the US is a really exciting possibility.
"William Hill's sports betting expertise will complement Caesars' existing offering, enabling the combined group to better serve our customers in the fast growing US sports wagering and online market."
On Friday, William Hill verified that it had actually received 2 takeover methods, which sent its share rate skyrocketing by 42% to 312p.
Caesars stated its deal was nearly 58% higher than William Hill's share rate on the day before the US business made its first method on 2 September.
It added it was also above the wagering business's share rate on Thursday last week, before its disclosure of the two methods triggered its share price to rise.
But David Cumming, primary investment officer for equities at Aviva Investors, said deals for William Hill might overtake the 312p level its shares ended at on Friday.
He told the BBC's Today programme: "The view is - and we do hold some William Hill so it [has] some interest here - the 40% increase on Friday, given comparative evaluations in the US, it is possible that the bid is available in at a higher level than the closing cost we saw then so there still might be some advantage.