Caesars Entertainment Inc and William Hill PLC have confirmed that during the shareholder meetings held yesterday, the latter’s shareholders approved the recommended 272p cash offer from Caesars by the requisite majorities.
The transaction is subject to the satisfaction of the remaining outstanding regulatory conditions and final approval of the English Court.
Each of the resolutions were approved by the requisite majority of shareholders, with over 86% of the votes cast at the meetings in favor of the transaction.
In a statement from Caesars, it was noted that both parties are making progress towards obtaining all necessary regulatory approvals required to close the transaction and Caesars is now aiming to close on the deal in March 2021.
Updating its own investors, William Hill issued a statement which outlined: “William Hill is pleased to announce that, at the Court Meeting and General Meeting held earlier today in connection with the acquisition: the requisite majority of scheme shareholders voted to approve the scheme at the court meeting; and the requisite majority of William Hill Shareholders voted to pass the special resolution to implement the scheme, including the amendment of William Hill’s articles of association, at the General Meeting.”
Tom Reeg, CEO of Caesars Entertainment, stated: “We are pleased to have received William Hill shareholder support for our recommended cash offer. We continue to work towards satisfying the remaining regulatory conditions and look forward to completing the transaction next year and integrating William Hill US into our Caesars sports betting and igaming franchise,”