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Caesars to offer 30 million shares to fund William Hill deal

FILE PHOTO: A pedestrian walks past a William Hill betting shop in London
FILE PHOTO: A pedestrian walks past a William Hill betting shop in London

(Reuters) - Caesars Entertainment <CZR.O> said on Monday it would offer 30 million shares and intends to use the net proceeds to finance a portion its possible takeover of William Hill <WMH.L>. The company gave no indication on pricing of the offer.

The offer would be valued at $1.7 billion (1.32 billion pounds) at Caesars' closing price of $57.07 on Friday.

(Reporting by Sanjana Shivdas in Bengaluru; Editing by Maju Samuel)