Entain confirms initial DraftKings offer rejection considering new proposal

Entain has released a further statement regarding a potential purchase from DraftKings, having initially responded to heavy media speculation about the approach

Entain has released a further statement regarding a potency purchase from DraftKings, having initially responded to sound media speculation nearly the approach.

In the 2nd statement, the sports betting and gaming aggroup said it has received a farther proposition from DraftKings, having rejected an before go up from the US group.

A 2,500 pence per share proposition was rejected, but a young offering comprising 2,800 pence per Entain part consisting of 630 pence inward hard currency and the counterbalance payable in unexampled DraftKings Class group A plebeian shares was received on 19 Sept 2021.

This unexampled proposition is currently beingness “carefully considered” past the Entain board, with the accompany urging its shareholders non to occupy litigate at this time.

“The board of Entain strongly believes inwards the hereafter prospects of the companionship underpinned by its leading market positions, world-class direction team up and industry-leading technology,” a statement from the group read.

“The companionship has a strong cartroad record of maturation and runway for farther important ontogenesis as readiness come out in the great markets twenty-four hours on 12th August, with the possible for its summate addressable marketplace to get by more than threesome times to $160bn.”

Entain noted that a farther announcement testament be made as and when appropriate, adding that any extend for the companionship testament follow governed past the City Code on Takeovers and Mergers.