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Oct 19 2021, 17:20 IST/BST
Ratings and price correct at time of issue
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The extension of the ‘put up or shut up’ deadline suggests that, at a proposed bid of £28 per Entain share, there is continued interest on the part of both Entain and DraftKings in exploring a business combination. However, the statement also confirms that several issues have yet to be resolved. These include total value creation for Entain shareholders (presumably determined by the final structure/value of deal), alongside matters relating to the future governance and commercial status of BetMGM (determining the value of Entain’s current 50% stake in the joint venture to the pro forma group). As was already understood, satisfactory resolution of these issues will be required for any combination to be successfully completed.