Evoke agrees to USD326m Bally’s Intralot takeover
British bookmaker Evoke, owner of brands William Hill, Mr. Green, and 888, agreed to be acquired by Greek lottery and gaming firm Bally’s Intralot in an all-share transaction valuing Evoke at approximately USD 326 million.
The offer values Evoke at 52 pence per share, representing a 33.8% premium to its closing price before deal discussions were confirmed. The company’s board unanimously recommended the transaction, which also includes a partial cash alternative capped at approximately GBP 117 million.
Private lenders led by TPG Credit, alongside Oaktree and OHA, have committed approximately GBP 889 million to refinance Evoke’s existing debt and support the transaction.
S. Horowitz and Milbank are representing Bally’s Intralot.
Herzog and Latham & Watkins are acting for Evoke.
