Caesars shoots lower than expected with $3.7 billion William Hill bid

Caesars shoots lower than expected with $3.7 billion William Hill bidCaesars was considering offering 272 pence per share and William Hill's board was inclined to recommend such an offer to shareholders, the companies said on Monday. William Hill shares on Friday surged to more than 312 pence each after it said it had received separate offers from Caesars and buyout group Apollo . Caesars only holds 20% of its U.S. joint venture with William Hill but the business is built on a presence in Caesars casinos and its brand name, which the casino owner said it would have the right to terminate in the event of an Apollo buyout.