city code on takeovers and mergers

PROBABILITY IN TALKS WITH WILLIAM HILL
Mobile gaming specialist Probability has revealed that it is in 'preliminary discussions' with William Hill regarding its sale to the British land-based and online betting firm.

Probability disclosed in a brief statement that these initial talks 'may or may not lead to an offer for the company'.

"This announcement is not an announcement of a firm intention to make an offer under rule 2.7 of the City Code on Takeovers and Mergers and there can be no certainty that an offer will be made nor as to the terms on which any offer will be made," read the statement from Probability.

Like its arch-rival, Ladbrokes, William Hill now has until October 17 to announce whether it will be making a firm offer for Probability under the amended Takeover Codes....[more]

takeovers and mergers   city code on takeovers and mergers   initial talks   ladbrokes   william hill   
Posted on Friday 18 November 2011 - 14:22:04

William Hill ends talks with probability
AFTER A MONTH of negotiations, William Hill has ended talks to purchase mobile gaming specialist Probability. Probability, which is the operator of the popular LadyLucks.co.uk mobile online casino, stated in September that it had entered into "preliminary discussions” that “may or may not lead to an offer for the company”.

William Hill declared last month that it had been granted an extension by the Takeover Panel ‘pursuant to Rule 2.6(c) of the City Code on Takeovers and Mergers of the existing Rule 2.6(a) Code deadline’ that gave it until November 14 to “announce a firm intention to make an offer”.

“Further to its announcement on September 20, 2011 regarding preliminary discussions with Probability, William Hill has today announced that it does not intend to make an offer for Probability,” read a brief statement released by William Hill.

William Hill operates 2,364 betting shops across the UK and Ireland and numerous sources have speculated that recent troubles regardi...[more]

probability probability   takeovers and mergers   city code on takeovers and mergers   takeover panel   william hill   
Posted on Saturday 03 March 2012 - 19:58:24

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