The owner of Bwin and Ladbrokes rejects an offer of more than 9,000 million from the MGM casino group

The British firm Entain, owner of bookmakers such as Bwin or Ladbrokes, has confirmed a proposal from the US group MGM Resorts International (MGMRI) with a view to launching a possible purchase offer of around 8,100 million pounds (just over 9,000 million euros), which the European company considers insufficient.

“Entain has informed MGMRI that it believes that the proposal significantly undervalues ​​the company and its prospects,” announced the British company, which has asked MGMRI for additional information regarding the strategic reasons for the combination of the two companies.

Under the terms of the most recent proposal, the American multinational gambling company, MGMRI would pay 0.6 of its shares for each Entain share, which represents a value of 1,383 pence per share, according to the share price at the end of 2020, with a 22% premium on the value of Entain securities.

In this way, Entain shareholders would own about 41.5% of the new MGMRI, which has indicated the possibility of a limited alternative for payment in cash to Entain shareholders.

At the end of 2020, the US casino operator Caesar reached an agreement to acquire for 2.9 billion pounds (3.225 million euros) the British bookmaker William Hill.

Under UK regulation, the American MGMRI has until February 1 to formalize its offer or announce its withdrawal.

© 2021 Europa Press.

Leave a Reply

Discover

Sponsor

spot_imgspot_img

Latest

Brad Pitt Accuses Angelina Jolie of Having ‘No Self-Regulation Mechanism’ In New Court Docs

The 53-year-old actor's attorney, Lance Spiegel, filed new documents on Wednesday supporting Pitt's request to have custody documents sealed, after Pitt's emergency hearing on...

Miami Biltmore Hotel announces the restoration of its historic golf course

The 18-hole, par 71, historic Biltmore Golf Course in Coral Gables (Miami-Dade) is being restored to reclaim the challenging original spirit of the 1925...

Kanye West and Kim Kardashian Take Daughter North to See The Nutcracker in L.A.

The couple were spotted attending the Los Angeles Ballet’s The Nutcracker with daughter North at the Redondo Performing Arts Center Center on Friday evening. Following the show, West, 39, and...

Richardson and the Heat win the Florida team duel and plunge the Magic

Forward Josh Richardson scored 20 points and became the leader of the Miami Heat attack that had to overcome an adverse score before beating...

The IACHR Urges Nicaragua to Release All Political Prisoners

Miami, .- The Inter-American Commission on Human Rights (IACHR) on Monday urged the Government of Nicaragua to release more than 80 political...
%d bloggers like this: