American Wagering: William Hill agrees to acquire American Wagering for $0.90/share and Cal Neva Sportsbook operations
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8:36 AM ET 4/14/11 | Briefing.com The total cost of the two acquisitions is ~$39 mln. William Hill is acquiring American Wagering for $0.90 per share, which equates to $9.4 mln on a fully diluted basis, plus the settlement of approximately $4 mln of debt and preference shares and the injection of a $4.25 mln convertible loan to American Wagering. It has received written consents approving the transaction from American Wagering shareholders who own the majority of American Wagering voting share capital... The Cal Neva Sportsbook Division is a part of the Sierra Development Company. William Hill will be paying $21.0 mln in cash, with a further $1.5 mln payable in the event that the Cal Neva Sportsbook Division achieves certain performance criteria in the 12 months to February 2012.
