HBK Europe is contesting Caesars William Hill takeover

The Las Vegas based company handed in a proposal for a $3.69 billion change of ownership of William Hill last September. Even though the UK company’s board accepted the offer, HBK will dispute the deal at March 31 UK Scheme Court hearing. The reasons behind that decision are related to undisclosed information, which should have been presented to William Hill’s investors.

In a letter intended for William Hill’s shareholders, HBK stated their firm belief that the voters on the Scheme weren’t aware of some vital information, which would have helped them assess the deal adequately. In particular, according to HBK, the terms of the agreement weren’t completely disclosed.

Even though one of the biggest sportsbook operators confirms the letter from HBK, they still maintain the opinion that the offer is in the investors’ best interest.
The major amazement of HBK is caused by the discovery of the fact that Caesars claim more authority on restricting counterbidders. According to HBK manager, Caesars’ ability to restrict other possible bidders is much more confined.

HBK calls out all the shareholders to claim more significant details on the restricted buyers` list and the deal generally.

Published on: 24th Mar 2021