The Caesars bid is more than double the 128p at which William Hill raised £224 million in JuneWilliam Hill looked a strong favourite to fall into American hands after Caesars Entertainment announced that it was in advanced discussions over an all-cash offer for the bookmaker worth £2.9 billion. The owner of Caesars Palace, which faces a counterbid from the US private equity firm Apollo Global Management, said that it was offering 272p a share, a 57.6 per cent premium to the William Hill share price of 172.5p before its first approach for the British group. It said that the William Hill board had indicated that, at that level — more than double the 128p at which it raised £224 million in June — it would be “minded to recommend” the offer to its shareholders. Caesars, which is set to launch an equity

Source: The Times September 28, 2020 08:06 UTC