William Hill is one of the oldest British bookmakers but it looks set to come under American ownership with Caesars Entertainment set to acquire it for £2.9 billion.
Caesars Entertainment has offered to pay cash for all William Hill shares. The offer weighs in at 272 pence per share, a premium of 25% on the closing price the day before the bid. Buying all available shares at this price equates to £2.9 billion.
Investors learned of Caesars’ interest via an official statement from William Hill on the London Stock Exchange.