MGM makes £b.1bn bid to buy Entain
The deal could produce one of the largest gaming companies in the world with a significant online and land-based presence.
UK.- MGM International has made an offer to acquire the UK-based gaming company Entain PLC, the owner of renowned betting brand Ladbrokes.
According to The Wall Street Journal, MGM recently made an all-cash offer to Entain but the offer was subsequently rejected. The new bid comes with financial backing from MGM’s largest shareholder, InterActiveCorp.
The first bid offered £12.85 a share. MGM is now said to be offering £13.83 per share in an all-share deal. Entain, formerly known as GVC Holdings, has an estimated market value of $9bn.
It recently implemented a new strategy to deliver significant growth, driven by expansion in the U.S., growth across its core business and entry into new markets and to new audiences.
If Entain accepts the new MGM offer, the acquisition could produce one of the largest gaming companies in the world with a significant online and land-based presence.
