Online gambling company Entain rejects £8bn MGM bid
Entain says the offer, which would give the Las Vegas casino operator broader access to fast-growing online betting markets, undervalues the company
London — Online gambling company Entain has dismissed a £8.1bn bid from MGM Resorts International, in what would be the largest in a recent wave of trans-Atlantic betting mergers.
London-based Entain said the offer, which would give the Las Vegas casino operator broader access to fast-growing online betting markets, undervalues the company. Under the proposed terms, Entain investors would receive 0.6 of a share of MGM for every share they hold, according to a statement on Monday. MGM may also offer a “limited partial cash alternative” to the British company’s shareholders, who would own about 42% of the combined business...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.