Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

DraftKings gets one more month to decide on formal offer for Britain's Entain

Published 10/19/2021, 10:59 AM
Updated 10/19/2021, 11:00 AM
© Reuters. FILE PHOTO: A pedestrian walks past a branch of Ladbrokes in London, Britain December 22, 2017. REUTERS/Simon Dawson//File Photo

© Reuters. FILE PHOTO: A pedestrian walks past a branch of Ladbrokes in London, Britain December 22, 2017. REUTERS/Simon Dawson//File Photo

(Reuters) - Ladbrokes (LON:LCL) owner Entain said on Tuesday rival DraftKings (NASDAQ:DKNG) has until Nov. 16 to make a formal offer to take over the British sports betting and gambling firm, following a $22.4 billion proposal from the U.S.-based company last month.

London-listed Entain said it had sought the extension from Britain's takeover regulator since the two companies were still in talks over the terms of any possible deal, including plans around its BetMGM joint venture with MGM.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.