Caesars - William Hill Deal Receives U.S. Antitrust Approval

(RTTNews) - Caesars Entertainment Inc. (CZR) announced the early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 relating to the proposed acquisition of William Hill Plc. (WMH.L).

Caesars said that the proposed acquisition also received approvals from the Mississippi Gaming Commission on November 19 and the West Virginia Lottery on December 16.

The transaction remains subject to the satisfaction of the remaining conditions, including approval by the Indiana Gaming Commission, Nevada Gaming Control Board, Nevada Gaming Commission, New Jersey Division of Gaming Enforcement and Casino Control Commission, and the Pennsylvania Gaming Control Board.

In addition, the combination requires the English High Court's final approval and administrative and post-closing approvals from other US agencies.

Caesars said it continues to progress through obtaining all necessary regulatory approvals required to close the transaction and is still aiming to complete the proposed combination in March 2021.

In late September, William Hill plc, U.S-based gaming-entertainment company Caesars Entertainment and Caesars UK Holdings, a subsidiary of Caesars, said they reached agreement on the terms of a recommended cash acquisition pursuant to which Caesars UK shall acquire the entire issued and to be issued share capital of William Hill.

Under the deal, William Hill shareholders shall be entitled to receive 272 pence in cash for each William Hill share. The deal values the entire issued and to be issued share capital of William Hill at approximately 2.9 billion pounds.