Entain Confirms Proposal from DraftKings (DKNG)

DraftKings' (DKNG) $22 Billion Offer for Entail Seen as 'Transformational,' Further Market Consolidation Makes Sense Says Analyst

September 22, 2021 7:24 AM EDT

Yesterday, CNBC reported that DraftKings (NASDAQ: DKNG) made a $20 billion offer to acquire the British sports betting and gambling company Entail.

The UK-based company later confirmed it has received a proposal from DKNG, consisting of stock and cash. In an email statement, Entail also confirmed it has already rejected a 2,500 pence a share. Bloomberg added that the new bid is based on 2,800 pence a share, which would imply a 46.2% premium to the Monday closing price and value the company at $22.4 billion.

In January, Entain had rejected an $11 billion offer from MGM... More

Entain Confirms DraftKings (DKNG) Made Offer of 2,800 Pence Per Share - Bloomberg

September 21, 2021 3:08 PM EDT

(Updated - September 21, 2021 3:11 PM EDT)

Entain confirmed it received a proposal from DraftKings (NASDAQ: DKNG) for 2,800 pence per Entain share, consisting of 630 in cash and the balance payable in new DraftKings Class A common shares, according to Bloomberg.

Entain said it rejected... More

DraftKings courts UK's Entain with $22.4 billion offer as U.S. sports betting spurs deals

September 21, 2021 9:44 AM EDT

By Subrat Patnaik and Nivedita Balu

(Reuters) -British gambling firm Entain said on Tuesday that U.S. fantasy sports betting company DraftKings had made a takeover proposal that valued it at $22.4 billion.

Under its current proposal, DraftKings plans to offer 28 pounds per Entain share, representing a premium of 46.2% to the UK firm's Monday close. Entain said it had earlier rejected a proposal from DraftKings to buy the company for 25 pounds ($34.15) per share.

Entain's shares closed up 18% as the companies confirmed the approach, which would give the U.S. firm access to the Ladbrokes Poker... More