Reports over the weekend claimed that Bet Fred owner Fred Done was on the verge of potentially hijacking the FTSE 250 bookie’s deal with the US casino giant.
READ: William Hill investors shouldn’t look Caesars gift horse in the mouth ahead of UK’s gambling law review
William Hill’s second-biggest shareholder, Done was reported to be looking at “all options”, the Sunday Telegraph reported.
This speculation was batted away, however. “Bet Fred is not making a rival bid...Fred Done is weighing his options but a full bid for William Hill is not one of them,” a company source said in a statement.
Last week, William Hill’s directors said they “would be minded to recommend” the £2.9bn takeover by Caesars, with chairman Roger Devlin saying the offer is the “best option” and “at an attractive price for shareholders”.
A competing offer from private equity firm Apollo was also rejected.
Caesars potentially spiked any rival approaches by threatening to cancel its American partnership with William Hill if someone else was to acquire the British bookie, which would saw off its access point into the US mobile betting market along with its rights to operate sportsbooks at Caesars’ casinos.