Entain makes final, increased offer to acquire Enlabs1st March 2021 8:22 am GMT
Entain has increased its offer price to acquire Enlabs by 32.5 per cent, with the increased price marking the company’s final offer for the Stockholm-listed online gaming operator.
The increased offer of SEK53 per share announced Monday represents an 88.5 per cent premium on Enlabs’ volume-weighted average share price in the 180 trading days preceding the announcement of the offer, and a 34 per cent premium compared to the closing price of SEK39.55 per share on the day before the offer was first announced on 5 January.
Rob Wood, CFO and deputy CEO of Entain, said: “As a world leader in sports betting and gaming entertainment, Entain’s ambition is to revolutionise betting and gaming to create the most exciting and trusted entertainment for every customer.
“In a highly competitive and regulated industry, where consolidation is a key theme, Entain is able to provide the scale and platform needed to further support Enlabs’ long-term growth, and we firmly believe that Entain will be the best home for Enlabs, its employees and customers. Against this background, we have decided to make a final offer of SEK 53 to all shareholders, providing an opportunity to exit their investment at a very attractive valuation.”
Wood added that the revised offer has the irrevocable support of shareholders representing around 51 per cent of Enlabs’ shares and urged other shareholders to do the same by 18 March.
Shares in Entain plc. (LSE:ENT) were trading 1.63 per cent higher at 1,436.00 pence per share in London early Monday morning, while shares in Enlabs AB (STO:NLAB) jumped 17.67 per cent to SEK52.60 per share in Stockholm.