Entain extends acceptance period for Enlabs acquisition11th February 2021 8:31 am GMT
Enlabs shareholders have been given an extra month to accept Entain’s cash offer of SEK40 per share.
The acceptance period for the offer was due to expire on February 18 but has now been extended to March 18, with settlement expected to commence on or around March 23, subject to receipt of necessary approvals.
Entain said Thursday that it is extending the acceptance period because it is unlikely to secure the necessary approvals by the original acceptance date due to the timing of the review process with relevant authorities.
Entain announced its £250m cash offer to acquire Stockholm-listed gaming operator Enlabs in January and expected to complete the transaction during the first quarter of the year, with Enlabs’ independent bid committee unanimously recommending the offer.
Shares in Entain plc. (LSE:ENT) were trading 1.14 per cent higher at 1,335.00 pence per share in London Thursday morning, while shares in Enlabs AB (STO:NLAB) were down 0.58 per cent at SEK43.05 per share in Stockholm.