William Hill PLC (LON:WMH) shares shot up 34.5% as the UK bookie confirm it has received separate cash proposals to buy the company, one from Apollo Management International and one from Caesars Entertainment Inc.
Talks between William Hill and the respective parties are ongoing, the London-listed company said in a brief statement.
William Hill noted that it made today’s announcement without the prior agreement or approval of Apollo or Caesars.
The interested parties now have until October 23 to formally announce their intentions to make an offer for William Hill.
In London, William Hill shares are up 76.4p or 35% changing hands at 297.7p.