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The Financial Times reported on 18 April 2005 that William Hill is in talks with Stanley - Essay Example

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WAS THE WILLIAM HILL ACQUISITION OF STANLEY LEISURE WORTHWHILE? Contents Introduction 4 Research Questions 4 Background of the Study 7 William Hill 8 Stanley Leisure 11 William’s Takeover 12 Reasons for Takeover 12 Literature Review 13 Post-Takeover Performance 13 Financial and Strategic Motives for Acquisition 14 Conceptual Framework 16 Working Capital Components by Use of (CAPM) 16 Mathematical (CAPM) 17 Hypotheses, Data and Methodology 18 Introduction 18 Hypothesis 18 Hypothesis One (H1) 19 Hypothesis Two (H2) 19 Capital Assest Pricing Model (CAPM) 19 OLS Regression Model 21 Data Analysis 22 Data Interpretation 22 Critical Discussion 22 Limitations of the Research 23 Strengths of the Stu…
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The Financial Times reported on 18 April 2005 that William Hill is in talks with Stanley
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The Financial Times reported on 18 April 2005 that William Hill is in talks with Stanley

Download file to see previous pages... On William Hill portfolio diligence, I will discuss the working capital management for acquisition of Stanley Leisure. In this report, I analyse the due diligence guidelines that are predisposed to assist William Hill in capital evaluation of Stanley Leisure, with statistical precision and performance reports. According to Horne and Wachowicz (2000), working capital management is an important component of corporate finance; it directly affects the liquidity and profitability of William Hill in acquisition of Stanley Leisure. Purpose, findings, and research questions that will guide the study are generated from the shareholders’ effects and the motives for acquisition. The data for this study will be the secondary data from Journal of Financial Economics. In the background study, I analyse the reasons for William Hill’s takeover and stipulate the post-takeover performance of the company. Motives for acquisition of Stanley Leisure and shareholders’ value are critiqued in the following project. In this project, I have used the capital assets pricing model (CAPM) in methodological analysis and OLS Regression for data sources. I can resolve if William’s merger was worthwhile through liquidity-based explanations. Introduction Mergers and acquisitions involve the amalgamation of two or more firms or the purchase directed to current firm within the foreign country. This was established by Whiting (1976) that acquisitions are effected through capital transfer, use of marketing skills, and presence of skill for management to increase the efficiency of the companies concerned. The development of better information systems in the global trade can enable a company increase its level of performance and meet its customer needs better. I will discuss in detail the research questions that will assist William Hill in acquisition of Stanley Leisure; due diligence need by William Hill is to enable the shareholders with adequate concept of underlying William acquisition portfolio than the prevailing market allocation of betting services. This gives the company sufficient evidence and confidence to leverage the funding of the acquisition of Stanley Leisure. (Christen 2009). According to Robert (2009), due diligence gives a comprehensive analysis of appraisal techniques and interpretation of acquisition results for both the firms involved. William Hill has to identify the risks associated with acquisition portfolio and formulate dynamics to make up for the loss that might come along. Research Questions In this, research William Hill has to investigate various pieces of information and statistics. It has to: 1. Evaluate how working capital management will assist in the profitability of its firm. 2. Analyze how working capital management affects its profitability. 3. Find areas where investments activities need to be implemented. 4. Are the components of working capital of high importance in ...Download file to see next pagesRead More
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