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William Hill: Caesars Palace-owner in 'innovative' talks over ₤ 2.9 bn bet9ja's welcome offer
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Caesars Entertainment, the Las Vegas casino-owner, states it is in innovative takeover talks with William Hill over a possible ₤ 2.9 bn bid for the bookmaker.
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The US firm stated William Hill's board had actually indicated it is minded to recommend its money offer of 272p a share.
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William Hill has actually likewise received a takeover approach from US personal equity company Apollo.
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But Caesars said if William Hill picked Apollo, it would jeopardise a joint venture in between the companies.

Caesars primary Reeg stated: "The opportunity to integrate our land based-casinos, sports wagering and online gaming in the US is a truly interesting prospect.
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"William Hill's sports betting proficiency will match Caesars' current offering, enabling the combined group to better serve our consumers in the yohaig code fast growing US sports betting and online market."

On Friday, William Hill validated that it had received two takeover methods, which sent its share price soaring by 42% to 312p.

Caesars said its bet9ja's welcome offer was nearly 58% greater than William Hill's share rate on the day before the US business made its first technique on 2 September.
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It included it was also above the yohaig code betting business's share price on Thursday last week, before its disclosure of the two approaches triggered its share rate to surge.

But David Cumming, chief financial investment officer for equities at Aviva Investors, stated deals for William Hill could outstrip the 312p level its shares ended at on Friday.
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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% rise on Friday, offered comparative evaluations in the US, it is possible that the bid comes in at a greater level than the closing price we saw then so there still may be some advantage."
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Apollo - which is likewise one of two companies in the final running to purchase UK grocery store Asda - is yet to release information of its possible bet9ja's welcome offer for William Hill.

However, Mr Cumming stated he thought Caesars was the most likely victor "due to the fact that it currently owns 20% of William Hill's US company and so it must have some synergies".
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