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What GWM and HBK are hanging their respective hats on is that Caesars was permitted to have a list of restricted buyers for William Hill. HBK previously noted the Harrah’s operator could place six names in that group and replace one every six months. The investor claims that revelation wasn’t publicized by William Hill until the day of the shareholders’ vote.<\/p>\n<\/div>\n
In the letter released last week, HBK specifically says Caesars directly moved to include Apollo on the restricted list.<\/p>\n
What’s Next for GWM<\/h2>\n
It’s not clear if other investors will join GWM and HBK in contesting the transaction. But the Financial Times <\/i>reports other hedge funds expressed concerns to William Hill’s board.<\/p>\n
Assuming the takeover ultimately goes through, Caesars creates an iGaming and sports betting juggernaut in the US, significantly increasing the operator\u2019s online footprint.<\/strong><\/p>\nAdditionally, the buyer is widely expected to rapidly auction off William Hill’s European unit — a move that’s likely to draw plenty of suitors<\/a>, perhaps including Apollo.<\/p>\n","protected":false},"excerpt":{"rendered":"Another money manager is claiming William Hill (OTC:WIMHY) didn’t reveal enough information regarding Caesars Entertainment\u2019s (NASDAQ:CZR) proposed $3.69 billion acquisition of the sportsbook operator. GWM Asset Management will reportedly contest the deal. They argue on the basis that William Hill’s board of directors didn’t adequately inform investors on Caesars’ rights to scrap its US joint […]<\/p>\n","protected":false},"author":46,"featured_media":169000,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,32093],"tags":[],"acf":[],"yoast_head":"\n
GWM Joins List of Investors Contesting Caesars William Hill Takeover<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n