DraftKings walks from potential US$22.4B offer for Entain

DraftKings walks from potential US$22.4B offer for Entain

Bloomberg  26th October 2021 | DraftKings Inc. said it won’t make a final bid for Entain Plc, stepping away from a deal valued at about US$22.4 billion and halting a merger frenzy in the gambling industry.

DraftKings had offered 2,800 pence a share in cash and stock on Sept. 19 for Entain, owner of British bookmakers Ladbrokes and Coral. The offer represented a 43 per cent premium over the stock price at the time and improved on an earlier 2,500-pence bid.

Continue reading DraftKings walks from potential US$22.4B offer for Entain at Sports Betting Operator.