Apollo Management Says Does Not Intend To Make Offer For William Hill - Quick Facts

(RTTNews) - Apollo Management International LLP confirmed Thursday that it does not intend to make an offer for British betting and gaming company William Hill plc (WMH.L).

In late September, William Hill plc, U.S-based gaming-entertainment company Caesars Entertainment, Inc. (CZR) and Caesars UK Holdings, a subsidiary of Caesars, said they reached agreement on the terms of a recommended cash acquisition pursuant to which Caesars UK shall acquire the entire issued and to be issued share capital of William Hill.

Under the deal, William Hill shareholders shall be entitled to receive 272 pence in cash for each William Hill share. The deal values the entire issued and to be issued share capital of William Hill at approximately 2.9 billion pounds.

The completion of the deal is expected to take place in the second half of 2021.

Prior to that, on September 25, William Hill had confirmed it received separate cash proposals from Apollo Management and Caesars Entertainment.