Some interesting M&A developments during the week, with the news that US casino giant Caesars is in advanced takeover talks to buy William Hill.
It's an all cash offer of around £2.9 billion.
The interesting part, is that Caesars only appear interested in William Hill's US-based sports betting operations. They have flagged their intent to flog off all non-US operations if the deal goes ahead - which is the vast majority of William Hill group assets. Makes you wonder why they didn't just make an offer for the US business in the first place (smaller fee for their advisors perhaps ).
Anyway, should the deal go ahead we're likely to see a bidding war emerge for the rest of William Hill.
Sure Flutter, GCV, maybe even bet365 would be interested?
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