Apollo pulls out of William Hill deal

Apollo Management International has confirmed that it is not intending to make an offer for William Hill.

Apollo said it would not make a bid for the betting giant unless Caesars pulls out or a third party gets involved.

“Apollo Management International, on behalf of certain of its affiliated funds, confirms that it is not intending to make an offer for William Hill,” the potential bidder said today after having been linked to a potential deal in September.

A little over a month ago, the board of William Hill agreed to a deal with Caesars which would value the UK giant at £2.9bn.