(Reuters) - William Hill (WMH.L), Britain's largest bookmaker, has been given until next month to submit a formal bid for online gaming company Sportingbet (SBT.L) following a 530 million pounds ($841 million) takeover approach.
The Takeover Panel, which oversees mergers and acquisitions, has extended the deadline for an offer until 1700 GMT on December 4 to allow discussions to continue between Sportingbet, William Hill and joint bidder GVC Holdings (GVC.L), Sportingbet said.http://uk.reuters.com/article/2012/11/13/uk-sportingbet-william-hill-idUKBRE8AC07M20121113
Meanwhile the share price of both William Hill and Sportingbet drift lower, the latter now around the 50p mark, with the potential takeover being 61p.
Is there a chance it won't happen?
The complication for William Hill is to try to separate out the Spanish business from operations in other parts of Europe where the regulations are less clear-cut.
Partner GVC is planning to acquire those operations in "grey markets" where regulatory risks are higher.http://uk.reuters.com/article/2012/11/13/uk-sportingbet-william-hill-idUKBRE8AC07M20121113
Previous posts;
Will Sportingbet finally get a takeover bid?
Sportingbet, William Hill, GVC takeover update
No comments:
Post a Comment