Slaughter and May is advising William Hill Plc (William Hill) on its cash box placing to institutional investors and its associated offer to retail investors via the PrimaryBid platform (the Placing). The Placing represents approximately 19.99% of William Hill’s existing ordinary share capital (excluding treasury shares) and will raise gross proceeds of approximately £224 million. The Placing, the results of which were announced on 17 June, was conducted in part through an accelerated bookbuilding process for institutional investors, with Barclays Bank PLC and Citigroup Global Markets Limited acting as joint global coordinators and joint bookrunners. Alongside this accelerated bookbuilding process, William Hill made an offer to retail investors in the United Kingdom to participate in the placing via the PrimaryBid platform.
Slaughter and May worked as a combined team with Cravath, Swaine & Moore LLP (who advised on matters of US law) and Mourant Ozannes (who advised on matters of Jersey law) to support William Hill’s in-house legal team, led by Simon Callander (General Counsel and Company Secretary).