Entain soars on DraftKings bid; MGM keeps poker face
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DraftKings' (DKNG) $22 Billion Offer for Entail Seen as 'Transformational,' Further Market Consolidation Makes Sense Says Analyst
September 22, 2021 7:24 AM EDTYesterday, 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
