The UK bookmaker expects the scheme of arrangement to become effective Thursday
William Hill's takeover by Caesars gets UK court approval
Caesars had threatened to terminate its joint venture with William Hill if the takeover deal failed, making it highly unlikely that any other bidders would emerge.
2021-04-20
Reading time 30 seg
William Hill said this approval followed a hearing last month. Stating that terms of the joint venture between the two firms were not adequately disclosed by William Hill last year, HBK had opposed the scheme of arrangement for the 2.9 billion pounds ($4 billion) agreement.
Even though, the concern raised by minority shareholder HBK around disclosures about the deal, on Tuesday, Bookmaker William Hill said a British court had approved its takeover by U.S. Caesars, which had agreed to buy the group in September last year.
The British company said that: “the scheme is likely to become effective on April 22 after the court permitted it following a hearing last month, and shares of William Hill are expected to be delisted from the London Stock Exchange."
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