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Caesars Entertainment looks to be placing a big bet.
The U.S. casino operator says it’s in talks to buy UK bookmaker William Hill, in a deal valued at 3.7 billion dollars.
In a joint statement Monday (September 28) the pair said negotiations were at an advanced stage.
The pair already have a joint venture in the U.S., including William Hill outlets in casinos.
Now the new deal would give Caesars full control of that, up from the 20% stake it has now.
But there could be a rival player.
William Hill says it has also received a bid from buyout group Apollo Global Management.
Shares in the UK firm soared Friday (September 25) on reports of that bid.
But then fell right back to previous levels on Monday, suggesting investors are uncertain what price a deal could attract.
Meanwhile, Caesars is getting its stake together.
It’s raising new equity, and
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Microsoft Corp. (MSFT) – Get Report said Monday that it has agreed the takeover of video game publisher Bethesda Softworks that values the maker of Fallout and The Elder Scrolls at around $7.5 billion.
Under terms of the deal, Microsoft will purchase Zenimax, the parent company of Washington, D.C.-based Bethesda Softworks, for $7.5 billion in cash. The tech giant said the purchase won’t likely impact its non-GAAP earnings for this year or next, but said new game launches would be added to its XBox Game Pass system on the same day they’re launched. The deal is expected to close in the second half of 2021, Microsoft said.
“Gaming is the most expansive category in the entertainment industry, as people everywhere turn to gaming to connect, socialize and play with their friends,” said Microsoft CEO Satya Nadella. “Quality differentiated content is the engine behind the growth and value of
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(RTTNews) – Illumina Inc. (ILMN) agreed to buy GRAIL, a healthcare company whose mission is focused on multi-cancer early detection, in a cash and stock transaction valued at about $8 billion.
The deal consists of $3.5 billion in cash and $4.5 billion in shares of Illumina common stock. Illumina currently holds 14.5% of GRAIL’s shares outstanding, and approximately 12% on a fully diluted basis.
Illumina expects to close the transaction in the second half of 2021.
Upon closing of the transaction, current Illumina stockholders are expected to own about 93% of the combined company, while GRAIL stockholders are expected to own about 7% based on the mid-point of the collar.
Illumina expects the transaction will be accretive to its revenue starting in 2021, and to meaningfully accelerate revenue growth over time.
Following the completion of the transaction, GRAIL will operate as a standalone division within Illumina.
GRAIL was founded by