Entain looking to obtain remaining Enlabs shares

Entain looking to obtain remaining Enlabs shares

Posted by: AffPapa

Entain Plc will be moving forward with the mandatory purchase of all the shares in Enlabs that have remained, after the firm grew its holding in the operator to 95.9%.

Moreover, Entain revealed last week that it had finalized its acquisition of the Baltic-facing operator, as over 94% of the shares in Enlabs supported the agreement. The offer was initially accepted during the extended period in time that ended on the 1st of this month, and was supported by an additional 1.7% of the shareholders, which then pushed Entain’s acquisition to 95.9%.

The settlement of the shares that were put forward during the extended period will be taking places near the 13th of April, and Entain has said that it will not be increasing this period any more.

Additionally, Entain also obtained all the warrants that will allow it to buy shares issued by the Baltic operator, however it will not be able to buy any shares that will provide it with financial exposure to Enlabs shares that are not mentioned in the bid. Hence, Entain has commenced the mandatory acquisition proceeding with reference to the shares that have not been bought.

Entain will be obtaining Enlabs in January for a bid of £250 million (or approximately $345 million), however this was then increased to £314.6 million when Entain increased its offer from SEK40 for each share to SEK53.

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