Gibson Dunn & Crutcher is advising William Hill on its most recent merger discussions with gaming rival Amaya, with Ashurst and Slaughter and May also winning roles.
The news follows the breakdown of negotiations between William Hill and a consortium last year, which included Rank Group and 888 Holdings.
Gibson Dunn and Slaughters are understood to have worked with William Hill throughout the talks, with the British-listed bookmaker looking to accelerate its strategy in both the digital and international marketplace.
Partner Jonny Earle was on hand for Gibson Dunn, while Slaughters partner Sally Wokes has also been working with William Hill on the financial aspects of the deal.
The transaction is set to involve English, US and Canadian law, with Stikeman Elliott partner Amanda Linett providing the latter for William Hill in Toronto.
William Hill’s intended merger partner Amaya called upon advice from Canadian firm Osler Hoskin & Harcourt, who fielded a team led by partner Doug Bryce.
Ashurst partner Karen Davies has been providing English law advice to new client Amaya, with Blake Cassels & Graydon also winning a role through Toronto-based partner Jeff Lloyd.
Should the deal go through, William Hill and Amaya would create one of the largest gambling companies listed in London.
The tie-up would result in consist of a £4.6bn all-share “merger of equals” although the discussions are still ongoing.
Background to the deal
William Hill is one of a number of betting operators to have sought consolidation in the last few years. It has, however, lagged behind a few of its competitors who have all announced tie-ups with domestic and overseas rivals.
Earlier this year, the company turned down an offer by 888 Holdings and Rank Group, which had sought legal advice from Allen & Overy (A&O) partners Ed Barnett and Annabelle Croker, and Norton Rose Fulbright partner Raj Karia and Chris Randall respectively.
The rebuff from William Hill marked the second time in a year that 888 Holdings had lost a bid for a rival betting operator, losing out to GVC Holdings in its battle for Bwin.
Gibson Dunn’s role on the most recent William Hill deal follows its work on another Canadian-related transaction for the company, in which it agreed terms with OpenBet and NYX Gaming.
Gibson Dunn, Ashurst and Slaughters have in fact all been busy acting on deals within the gaming industry this year, with Ashurst and Slaughters winning key roles on Ladbrokes’ tie-up with Gala Coral.
In other moves towards consolidation, Arthur Cox, A&O and Freshfields Bruckhaus Deringer won top roles on the merger between Betfair and Paddy Power in August 2015.
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