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William Hill: Caesars Palace-owner in 'sophisticated' talks over ₤ 2.9 bn bet9ja's welcome offer

Caesars Entertainment, the Las Vegas casino-owner, states it is in innovative takeover talks with William Hill over a possible ₤ 2.9 bn bid for the bookie.

The US company stated William Hill's board had suggested it is minded to advise its money deal of 272p a share.

William Hill has also gotten a takeover technique from US firm Apollo.

But Caesars stated if William Hill picked Apollo, it would jeopardise a joint endeavor in between the business.

Caesars president Tom Reeg said: "the yohaig code opportunity to integrate our land based-casinos, sports wagering and online video gaming in the US is a genuinely exciting possibility.

"William Hill's sports betting expertise will match Caesars' current offering, making it possible for the combined group to much better serve our clients in the quick growing US sports wagering and online market."

On Friday, William Hill validated that it had received two takeover approaches, which sent its share cost soaring by 42% to 312p.

Caesars said its deal was nearly 58% higher than William Hill's share price on the day before the US company made its very first technique on 2 September.

It added it was also above the yohaig code wagering business's share cost on Thursday recently, before its disclosure of the 2 techniques caused its share cost to rise.

But David Cumming, primary investment officer for equities at Aviva Investors, stated offers for William Hill could outstrip the 312p level its shares ended at on Friday.

He informed the BBC's Today programme: "The view is - and we do hold some William Hill so it [has] some interest here - the 40% rise on Friday, offered relative valuations in the US, it is possible that the quote comes in at a greater level than the closing price we saw then so there still might be some benefit."

Apollo - which is likewise one of 2 firms in the yohaig code final going to buy UK grocery store Asda - is yet to publish details of its possible deal for William Hill.

However, Mr Cumming stated he believed Caesars was the most likely victor "since it currently owns 20% of William Hill's US company therefore it should have some synergies".