UK bookmaker William Hill plc has agreed to pay approximately £424m to buy out technology and services supplier Playtech from its 29 per cent stake in William Hill Online.
The agreed price of £424m represents a multiple of approximately 11.5 times normalised 2012 EBITDA and is to be settled entirely in cash, with Playtech receiving a proportionate share of 2013 profit from William Hill Online up to the date of completion.
The transaction must be completed before [...]
