for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up

Caesars to offer 30 million shares to fund William Hill deal

FILE PHOTO: A pedestrian walks past a William Hill betting shop in London, Britain July 25, 2016. REUTERS/Neil Hall

(Reuters) - Caesars Entertainment CZR.O said on Monday it would offer 30 million shares and intends to use the net proceeds to finance a portion its possible takeover of William Hill WMH.L. The company gave no indication on pricing of the offer.

The offer would be valued at $1.7 billion (1.32 billion pounds) at Caesars’ closing price of $57.07 on Friday.

Reporting by Sanjana Shivdas in Bengaluru; Editing by Maju Samuel

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up