Caesars shoots lower than expected with $3.7 billion William Hill bid.
The deal would give the casino operator full control of a quickly expanding U.S. sports-betting and online business.
William Hill shares on Friday surged to more than 312 pence each after it said it had received separate offers from Caesars and buyout groupThose gains were handed back on Monday, however, leaving the stock at 273 pence, suggesting that even if Apollo counters, investors now expect the price to be far lower.
"While a termination of the relationship with William Hill under new ownership makes little business sense, it does add risk for a private equity acquisition...a price at the upper end of our range is unlikely," Barrett said.
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