Caesars takeover of William Hill cleared by U.K. court

According to William Hill, the £2.9 billion takeover by Caesars Entertainment has been cleared by a UK court despite some shareholder protests.

The merger was put on hold by a court hearing after minority shareholder HBK Capital Management raised concerns about disclosures relating to the deal.

HBK and fellow US hedge fund GWM Asset Management both stated that the terms of the joint venture were not properly disclosed by William Hill last year when the deal was made in September. While the court process was delayed by almost three weeks, the deal is finally sanctioned by the court.

Tom Reeg, Chief Executive Officer of Caesars, had previously said:

“The opportunity to combine our land based-casinos, sports betting and online gaming in the US is a truly exciting prospect.”

“William Hill’s sports betting expertise will complement Caesars’ current offering, enabling the combined group to better serve our customers in the fast growing US sports betting and online market.”