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William Hill Drops Opposition to SG/NYX Merger

UK gaming group William Hill has dropped their opposition to the purchase of the NYX Gaming Group by Scientific Games Corp, announcing that they'll support the purchase.

William Hill holds more than 9.3 million shares of NYX thanks to a previous deal related to the OpenBet platform of games between the two. The group had originally planned to block the deal unless the previous arrangement was upheld. That announcement led to NYX and SG opening anti-trust lawsuits against William Hill in US court, but it appears that the cases are being dropped due to the agreement.

A statement by SG on the matter read: "William Hill has undertaken to withdraw its previously issued notice of conversion of its convertible preference shares into NYX ordinary shares.

"Pursuant to the terms of the arrangement agreement between NYX and Scientific Games, the acquisition is subject to the approval of: (i) a majority in number of NYX shareholders present and voting, either in person or by proxy, representing at least 75% in value of the NYX ordinary shares held by those NYX shareholders present and voting, either in person or by proxy (excluding shares held by Scientific Games); and (ii) a simple majority of the votes cast by the holders of NYX ordinary shares, excluding shares held by certain interested shareholders, as well as approval of the Royal Court of Guernsey."

The deal is expected to be approved by shareholders later this month.

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bgsharpe
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11 December 2017 - 10:28am
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So obviously William Hill have been forced to agree to the deal because of the lawsuits, on their part is still unknown who would be the new William Hill owner, or they have been accused already?

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