William Hill approached by Apollo, Caesars on possible takeover
Reuters
Published Sep 25, 2020 08:32AM ET
(Reuters) - British betting firm William Hill (L:WMH) said on Friday it had received separate cash proposals from buyout firm Apollo (N:APO) and U.S. casino operator Caesars Entertainment (O:CZR) about a possible takeover, giving no indications of the offer values but sending shares in the company soaring 34%. "Following an initial written proposal from Apollo on 27 August 2020, William Hill received a further proposal from Apollo and proposals from Caesars," the company said, adding that the talks were ongoing.
Apollo and Caesars have until Oct. 23 to either announce a firm intention to make an offer for William Hill or walk away.
Bloomberg had earlier reported that Apollo had approached the company regarding a potential deal.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.