Shareholders of the British bookmaker William Hill, who we reported on 30th September were the subject of a takeover bid by the US giant Caesars Entertainment Inc, have approved the proposed £2.9bn takeover.
It is understood that both companies expect to receive the relevant competition and regulatory approvals in the second quarter of 2021, with some hope for these being ready sooner in March 2021.
Now this significant hurdle has been overcome, whereby the bid price of 272p has been accepted by shareholders, it is very likely that subject to regulatory approval, William Hill will be acquired by Caesars Entertainment Inc at some point during the 2nd quarter of next year.
William Hill and Caesars already work together in the US, with both companies operating in 170 venues across 15 states. The share price of William Hill increased by 1% yesterday afternoon to 268.4p per share.