Entain extends deadline for Enlabs shareholders to accept buyout deal

Business News

Entain on Thursday extended the deadline for Enlabs shareholders to accept its buyout offer.

Entain announced a public cash offer to the shareholders of Enlabs AB to tender all their Enlabs shares to Entain at a price of SEK 40 in cash per share. The Offer has been unanimously recommended by the independent bid committee of Enlabs.

The Offer and the acquisition of Enlabs is conditional on, among other things, the receipt of all necessary regulatory, governmental or similar clearances, approvals and decisions, including from competition authorities and gaming authorities, in each case on terms which, in Entain’s opinion, are acceptable.

Entain has filed applications to obtain the necessary approvals from relevant competition and gaming authorities, but due to the timing of the review process with the relevant authorities, Entain does not expect that all such approvals will have been received during the acceptance period which expires on 18 February 2021. Entain has therefore decided to extend the acceptance period until 17.00 CET on 18 March 2021.

Provided that Entain announces that the conditions of the Offer have been satisfied or waived on 23 March 2021, settlement is expected to commence on or around 30 March 2021.