Entain Confirms Proposal from DraftKings (DKNG)
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(Updated - September 21, 2021 10:32 AM EDT)
The Board of Entain plc ("Entain" or the "Company") notes the recent media speculation.
The Board of Entain confirms that it has received a proposal from DraftKings (NASDAQ: DKNG) to acquire Entain, the consideration for which would include a combination of DraftKings stock and cash.
There can be no certainty that any offer will be made for the Company, nor as to the terms on which any such offer may be made.
A further announcement will be made as and when appropriate. Shareholders are urged to take no action at this time.
Any offer for Entain is governed by the City Code on Takeovers and Mergers. Under Rule 2.6(a) of the Code, DraftKings must by not later than 5.00 p.m. on 19 October 2021 either announce a firm intention to make an offer for Entain in accordance with Rule 2.7 of the Code or announce that it does not intend to make an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This deadline will only be extended with the consent of the Panel in accordance with Rule 2.6(c) of the Code.
This announcement has been made without the consent of DraftKings.
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