William Hill clears another hurdle in MRG acquisition
Operator receives green light from competition authorities to complete purchase of MRG shares
William Hill has received regulatory approval from competition authorities in all required jurisdictions for its offer to acquire Mr Green parent company MRG for £242m.
The offer was made in October last year to all MRG shareholders for Hills to buy all shares for SEK 69 each, amounting to SEK 2.8bn (£242m).
As part of the deal, Hills has agreed to purchase 2,181,926 shares from Citigroup Global Markets Limited, corresponding to approximately 5.34% of all outstanding shares in MRG.
Settlement for the offer is expected to begin on 25 January after the offer ends on 17 January.
In October, Hills said the deal would enable the operator to expand its international business and reduce its reliance on the UK market.
It will also increase William Hill’s revenue mix with online set to increase from 42% to 47% of the business.
At the time of the offer, Hills CEO Philip Bowcock told EGR the Malta-based operator would provide William Hill with a hub on the island.