Caesars to acquire William Hill for $3.7 billion

On Monday Caesars Entertainment (CZR.US) disclosed a cash offer of 2.9 billion pounds ($3.7 billion) to buy London-based sports betting site William Hill (WMH.UK). The casino operator’s bid to buy William Hill was accepted by the British betting firm today. William Hill believes that the deal is the best option for shareholders at an attractive price.

Under the offer accepting William Hill shareholders will get 272 pence in cash for each share held, a 25% premium to Thursday's closing share price of 217.60 pence, the day before William Hill said that it had received the approach.

Caesars Entertainment (CZR.US) stock rose over 5% during today’s session. Recently price bounced off the upward trendline which is additionally strengthened by 50 SMA (green line). Should upbeat moods prevail, resistance at $59.77 per share may come into play. Source: xStation5

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