William Hill takeover to be completed by April

Caesars Entertainment can expect to complete the acquisition of William Hill by 1 April.

The deal was approved by shareholders last winter. Both companies were waiting for US gambling authorities to approve the merger and this is now expected to happen on or about 23 March.

Caesars and William Hill have organised a Scheme Court Hearing to take place on 30 March. This will be the final regulatory hurdle before procurement and legal completion of the deal.

With it nearly complete, William Hill has notified the London Stock Exchange that it will delist its shareholding from the FTSE Index by April. All of William Hill’s shares will be cancelled on 6 April in keeping with the terms of the deal.

Caesars will purchase William Hill for £2.9m ($3.7bn), having previously stated it will retain William Hill’s US betting force, with the rest of the business to be sold.

Apollo Global tried to buy William Hill, but the UK-based operator opted to go with Caesars Entertainment instead. 

The board at William Hill has published a new scheme document to its investors. The document provides full details of its takeover timetable and remaining regulatory proceedings.

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