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William Hill shares surge after receiving two takeover approaches

by LLB Finance Reporter
25th Sep 20 3:09 pm

William Hill has received two takeover approaches from private equity firm Apollo and casino giant Caesars Entertainment, which has driven a hike in their share price.

The gambling giant told investors that discussion “are ongoing” with both bidders.

In a statement to the London Stock Exchange, William Hill stressed that there “can be no certainty” that any formal offer will be made.

“The board notes the recent press speculation regarding a possible offer for William Hill,” they said in the statement.

“It confirms that it has received separate cash proposals from Apollo Management International and Caesars Entertainment.”

Shares leapt by 38% to 302.2p after the announcement.

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