Enlabs shareholders approve Entain’s €370 million offer

Enlabs shareholders approve Entain’s €370 million offer

Posted by: AffPapa

Baltic operator Enlabs AB shareholders have reportedly declared their approval of the €370 million takeover that was proposed by Entain Plc, offering SEK 53 for each share.

The group has noted that its €370 million cash offer was met with a 94% approval rate on the part of the company’s shareholders. After it had already acquired regulatory approval, Entain said that its offer will be unwavering and the settlement will be completed by the end of this month.

Moving forward with all of its obligations, Entain has chosen to extend the ‘acceptance period’ until April 1st, 13.00 CET in order to allow the Enlabs shareholders who have yet to approve of the offer’s terms.

Entain is now hoping to begin the mandatory acquisition activities with reference to Enlabs shares that are not presented by its offer, and has now asked that the Enlabs board applies for the de-listing of its shares from the Nasdaq First North Growth Market.

In an update, Entain has revealed that it is expecting to complete this transaction by April 13th. After obtaining approval from the shareholders, the firm also published an additional update for its offer, stating that it will be merging its flagship brand, Optibet, which is a massively popular bookmaker in Estonia and Latvia.

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