- Advertisement -
- Advertisement -

Related

Norron Delighted with William Hill Bid for Mr Green

Latest Report

- Advertisement -

Stockholm (HedgeNordic) – Bookmaker William Hill said it has made a SEK2.82 billion cash takeover offer to Swedish online gambling company Mr Green (MRG) in a bid to diversify its geographic operations. The offer, which has been agreed by the Mr Green board, represents a 49% premium to Mr Green’s closing share price on Tuesday.

William Hill said in a statement that presence, together with MRG’s experience of launching in new markets, would help the UK-focused group expand internationally. Its exposure to markets including Denmark, Italy and Latvia, as well as the UK and Ireland, would also help William Hill diversify the company.

In a comment to Hedgenordic, Marcus Plyhr, portfolio manager at Norron, says they are delighted with the bid.

“We are delighted with the bid from William Hill for Mr Green. Considering that Mr Green had been trading at a discount valuation versus its peers, we had already felt there was a distinct possibility of a bid for the company, and feel the William Hill bid offers significant positive synergies.”

He further says that the deal highlights value generation possibilities for peers.

“We also think this outlines the value generation possibility of its peers (such as Kindred and Kambi) for its investors, due to the fact that we can actually see positive top-line growth and high margins in the sector, going forward. Particularly in this market, we think investors will be looking more at growth, and diversification possibilities of uncorrelated assets.”

Plyhr sees possibilities of further consolidation in the sector.

“If we were to see a downturn in the general economy, we think the strength of these assets and sector will really begin to shine. Furthermore, there remain many other opportunities for consolidation within the sector, particularly from foreign companies seeking the strength and penetration of these local players have built.”

According to data from Morningstar Direct, the Norron Select fund holds a 2.1% exposure to Mr Green. Shares of the company traded 47% higher midday Wednesday, just below the deal price.

Photo by Kay on Unsplash

Subscribe to HedgeBrev, HedgeNordic’s weekly newsletter, and never miss the latest news!

Our newsletter is sent once a week, every Friday.

HedgeNordic Editorial Team
HedgeNordic Editorial Team
This article was written, or published, by the HedgeNordic editorial team.

Latest Articles

Elementa Tops Swedish Hedge Fund Universe in H1

After celebrating its ten-year anniversary in March, long/short equity fund Elementa closed the first half of 2025 as the best-performing Swedish hedge fund, delivering...

Asgard Winds Down Macro Strategy, Refocuses on Fixed Income

Less than a year after the launch of Asgard-Steno Global Macro Fund – a collaborative effort between macro strategist Andreas Steno Larsen and fixed-income...

Eric Strand’s Green-Gold 60/40 Alternative Roars Back to Life

After a two-and-a-half-year drought, including a rough start to 2025, AuAg Precious Green has taken off in recent months. The fund, Eric Strand’s innovative...

BNY Debuts Tail-Risk Overlay Fund

BNY Investments Newton, the specialist multi-asset and equity management arm of BNY Mellon, has launched the BNY Adaptive Risk Overlay Fund – a tail-hedging...

Taiga Fund Delivers Best First Half Since 2019

Usually operating under the radar, Norwegian long/short equity vehicle Taiga Fund delivered one of its strongest first-half performances to date – its best since...

Quirky Questions for Harold De Boer (Transtrend)

Not every conversation in the hedge fund world needs to revolve around alpha, trend signals, or trading models. In HedgeNordic’s Quirky Questions series, we ask industry...

Allocator Interviews

In-Depth: High Yield

Voices

Request for Proposal

- Advertisement -
HedgeNordic
Privacy Overview

This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.