DraftKings Takeover – A $22 Billion Bet

Trailing their competitor, FanDuel, by a significant market share, a DraftKings takeover of Entain has been floated… a deal worth an estimated $22.4 billion. The international bookmaker confirmed the offer in a filing with London Stock Exchange. An initial offer of 2,500 pence per share was made, but subsequently rejected by Entain. However, a press release confirmed that a second offer was received in mid-September for 2,800 pence per share. That would be a premium of over 46%. The Board at Entain went on to say that they “will carefully consider” the takeover proposal and respond when appropriate. They urged…

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