Caesars to acquire William Hill for $3.7 billion

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On Monday Caesars Entertainment (CZR.US) disclosed a cash offer of 2.9 billion pounds ($3.7 billion) to buy London-based sports betting site William Hill (WMH.UK). The casino operator’s bid to buy William Hill was accepted by the British betting firm today. William Hill believes that the deal is the best option for shareholders at an attractive price.

Under the offer accepting William Hill shareholders will get 272 pence in cash for each share held, a 25% premium to Thursday's closing share price of 217.60 pence, the day before William Hill said that it had received the approach.

Caesars Entertainment (CZR.US) stock rose over 5% during today’s session. Recently price bounced off the upward trendline which is additionally strengthened by 50 SMA (green line). Should upbeat moods prevail, resistance at $59.77 per share may come into play. Source: xStation5

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This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.

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