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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Barclays Plc    BARC   GB0031348658

BARCLAYS PLC

(BARC)
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Real-time Estimate Quote. Real-time Estimate CHI-X - 11/27 09:30:27 am
139.78 GBX   -0.94%
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Barclays, Citi, PJT and Deutsche Set to Share in GBP165 Million Fee Pot for William Hill Takeover -- Financial News

10/26/2020 | 06:55am EST

By James Booth

Of Financial News

Investment banks Barclays, Citigroup, PJT Partners and Deutsche Bank are set to share in up to 165 million pounds ($215.2 million) in fees for their work on the acquisition of gambling firm William Hill PLC by Caesars Entertainment Inc.

The four banks are set to share in the fee and expenses pot along with other advisers on the GBP2.9 billion takeover of U.K. bookmaker William Hill by U.S. casino giant Caesars, according to documents published Monday.

William Hill is being advised by Barclays, Citigroup and Blackstone Group spin-off PJT Partners while Caesars has turned to Deutsche.

According to the scheme document published Monday, Caesars' costs are expected to be GBP111 million to GBP124 million.

The scheme estimates financing costs at GBP62 million-GBP75 million, financial and corporate broking advice at GBP16 million, legal advice at GBP16.2 million, accounting and tax advice at GBP1.2 million, public relations advice at GBP90,000 and other costs and expenses at GBP15.1 million.

Caesars has retained Linklaters as legal adviser, Latham & Watkins as financing legal adviser, Skadden Arps Slate Meagher & Flom as U.S. antitrust legal adviser and Phelps Dunbar and Harris Hagan as U.S. and U.K. regulatory legal advisers respectively.

William Hill's costs and fees for the deal are estimated to be GBP41.3 million, consisting of GBP34.5 million in financial and corporate broking advice, GBP5 million in legal advice, GBP1 million in PR advice, GBP554,000 on other professional services and GBP114,800 on other costs and expenses.

Slaughter and May is retained as legal adviser and Weil Gotshal & Manges is retained as U.S. antitrust legal adviser to William Hill.

William Hill's board recommended on Sept. 30 that shareholders back the deal at a general meeting to be held on Nov. 19.

If the deal is approved by shareholders and regulators it is expected to take effect in the second half of 2021.

Website: www.fnlondon.com

(END) Dow Jones Newswires

10-26-20 0754ET

Stocks mentioned in the article
ChangeLast1st jan.
BARCLAYS PLC -1.34% 139.24 Delayed Quote.-21.45%
CAESARS ENTERTAINMENT, INC. -1.04% 69.37 Delayed Quote.410.07%
CITIGROUP INC. 0.00% 57.06 Delayed Quote.-28.58%
DEUTSCHE BANK AG 1.16% 9.527 Delayed Quote.36.14%
PJT PARTNERS INC. 1.50% 71.52 Delayed Quote.58.48%
THE BLACKSTONE GROUP INC. 1.09% 60.48 Delayed Quote.8.12%
WILLIAM HILL 0.15% 268.4 Delayed Quote.42.21%
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Financials
Sales 2020 21 580 M 28 766 M 28 766 M
Net income 2020 1 084 M 1 445 M 1 445 M
Net Debt 2020 - - -
P/E ratio 2020 22,1x
Yield 2020 1,26%
Capitalization 24 485 M 32 643 M 32 638 M
Capi. / Sales 2020 1,13x
Capi. / Sales 2021 1,18x
Nbr of Employees 80 800
Free-Float 99,6%
Chart BARCLAYS PLC
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Technical analysis trends BARCLAYS PLC
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TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 150,32 GBX
Last Close Price 141,10 GBX
Spread / Highest target 66,5%
Spread / Average Target 6,53%
Spread / Lowest Target -48,2%
EPS Revisions
Managers
NameTitle
James Edward Staley Group Chief Executive Officer & Director
Nigel Paul Higgins Group Chairman
Mark Ashton Rigby Group Chief Operating Officer
Tushar Morzaria Group Finance Director & Executive Director
Timothy James Breedon Independent Non-Executive Director
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