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Entain increases takeover bid for Enlabs to SEK 3.7bn

Gambling giant Entain has increased its takeover offer for Enlabs from SEK40 per share to SEK53, valuing its total bid for the Baltic operator at SEK3.7bn (£314.6m / €363.9m / US$439.2m).

Shareholders representing the majority of Enlabs have now backed the improved offer.

Entain submitted an initial bid to buy Enlabs' business in January - the offer was valued at SEK3.9bn - and full details of the offer were released later that month.

Entain's board and shareholders, who own 42.2% of Enlabs, supported the offer and Enlabs recommended acceptance, but some minority Enlabs shareholders rejected the offer, saying it "significantly undervalued" the business.

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Entain responded with an increased bid, with the acceptance period extending to 18 June. Entain had previously extended the period from February 18 to allow enough time to obtain all necessary approvals for the deal.

An independent bid committee of Enlabs told Entain that it would recommend Enlabs shareholders to accept the increased bid and that its formal announcement would be made no later than a week before the end of the acceptance period.

Including the 42.2% of Enlabs shares held by the board and Entain shareholders, a total of 51.0% of shareholders with shares and votes in Enlabs supported the new offer.

Entain said it would not increase its offer further and, subject to final shareholder and regulatory approval, hopes to complete the acquisition by the end of March.

"Entain will be a better home for Enlabs, its employees and customers," Entain CFO and deputy CEO Rob Wood told the Swedish portal https://casino-utan-svensk-licens.info/.

"Against this background, we have decided to make a final offer of SEK 53 to all shareholders, providing the opportunity to divest their investment at a very attractive valuation.

"We are pleased that shareholders holding approximately 51% have now unconditionally agreed to accept the offer and we encourage other shareholders to do the same by 18 June."

















































































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