William Hill backs down from legal spat over NYX takeover

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Scientific Games (SG) appear to be in the home-stretch of their acquisition of NYX Gaming, after William Hill ended its opposition to the deal.

 

The UK betting giant had moved to block the CAD$775m attempted takeover of Toronto-based company NYX by beefing up its stake in the latter.

SG responded with legal action, claiming its UK rival had “repeatedly threatened to block the acquisition by purchasing additional shares of NYX stock”.

However, the company has now agreed to acquire William Hill’s stake in NYX, which consists of 6.8m ordinary shares worth CAD$16.3m and £87m of convertible preference shares.

In a statement, SG said the deal was now “gaining momentum”, and added that another company, AlpInvest Partners, had entered into a separate agreement to support the takeover.

 


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