(Bloomberg) — Caesars Entertainment Inc. said William Hill Plc’s board would likely recommend its 2.9 billion-pound ($3.7 billion) takeover offer price, putting it on the front foot in a potential bidding war with Apollo Global Management Inc.The British gambling company confirmed it received approaches from both U.S. companies after Bloomberg reported Apollo’s interest on Friday. Caesars’ bid is 57.6% above William Hill’s closing price on Sept. 1, the day before its first approach.Caesars’ power over an existing joint venture with William Hill “makes rival offers unlikely,” said Goodbody analyst Gavin Kelleher. Some people may see Caesars’ offer price of 272 …read more
Source:: Yahoo Finance
