Setup News Ticker
Searching for 'Stock deal'. (Return)

Yahoo BusinessSep 25, 2020
Investors Gamble on a Bidding War for William Hill
(Bloomberg Opinion) -- It feels a bit soon to declare jackpot. The market is betting on a heated auction after U.K. bookmaker William Hill Plc confirmed a Bloomberg News report of bid interest from buyout shop Apollo Global Management Inc., adding that its U.S. partner, Caesars Entertainment Inc., is circling too.But there must be some doubt over whether a deal really can be done much above the levels investors are hoping for.William Hill stock has settled around 290 pence, about a 70% premium to the company's share price the day before Apollo submitted a written offer on Aug. 27. That's around 50% above the share price just before the pandemic gripped markets in late February, and one-third above William Hill's closing price on Thursday. It's as if a deal has already been done and investors are simply waiting for it to close.The company isn't revealing the price, but what's on the table was evidently good enough for talks. If it is at the levels the market is expecting, that would suggest a very high degree of faith on the part of the bidders.An agreement at 300 pence would cost the buyer 3.5 billion pounds ($4.4 billion) including assumed net debt. That would value William Hill at nearly 14 times next year's forecast Ebitda. U.K.-listed peer GVC Holdings Plc was on 8.2 times expected 2021 Ebitda before rallying in sympathy.As with so many bids at this time, it may look opportunistic. William Hill raised equity to cut debt earlier in the pandemic. It has been closing sites in the U.K. and it offers growth through its for
StocksBuy Market Dow futures European
Stockmarket Buy Today futures Higher
Coronaviruslatest vaccine cases pandemic Fox
PandemicDuring coronavirus live How Stocks
ChinaElectric FTSE index Bytedance bottled
Appletax Watch Commission EU Billion
COVID-19vaccine should tests UK pandemic
marketStock Stocks Dow futures Snapshot
FacebookElection Will Twitter Groups LinkedIn
TodayStock USA Stocks shooting best

Top News (Business News)
Accounting Today
AdWeek News
Banking Business Review
Barron's This Week Magazine
Barron's Up and Down Wall Street Daily
Brad Ideas
Chicago Tribune Business News
CNBC Business
CNBC Economy
CNBC Finance
CNN/Money Real Estate News Analysis Indicators
Enterprise Application News
Forbes Headlines
Forbes Social Media News - China, Economy & Trade - Financial Markets - Hedge Funds - Telecoms - US
Google Business News
Google Market News
HBS Working Knowledge
INSEAD Knowledge
International Tax Review
L.S. Starrett News
MarketWatch Breaking News
MarketWatch MarketPulse
McKinsey Quarterly Business
Nielsen Trends
NonProfit Times
NPR Topics: Business
NYTimes Business
Private Equity Breaking News
Reuters Business
Reuters Company News
Reuters Money Updates: News Digest
Tax Policy News
The Economist International News
The Motley Fool
USA Today Money
Wall Street Journal US Business
Wall Street Transcript
Washington Post Business
WSJ Asia
WSJ Europe
WSJ MoneyBeat
WSJ Opinion
WSJ World Markets
Yahoo Business
  • CEOExpress
  • 1 Boston Place | Suite 2600
    Boston MA 02108
  • 617 482 1200
    617 299 8649 (fax)
  • Contact
  • As an Amazon Associate
    CEOExpress earns from
    qualifying purchases.

©1999-2020 CEOExpress Company LLC