DraftKings Makes Entain Acquisition Proposal
While no details have been leaked regrading the figure proposed, the offer will be made up of both stock and cash.
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It has now been confirmed that Entain has received a takeover offer from US operator DraftKings.
While no details have been leaked regrading the figure proposed, the offer will be made up of both stock and cash.
Although the financials of the offer are yet to be confirmed by either party, or whether or not the offer is being considered, what we do know is that DraftKings has until 19 October to submit a firm offer. This is part of the regulations set out under the City Code on Mergers.
CBNC has today reported that bidding will be in the region of $20bn (£14.65bn/€17.06bn), valuing the company at close to £25.00 per share. However, market analysts believe this to be a low figure, with the actual takeover bid likely to be much more healthy.
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