7th Apr 2021 08:34
(Alliance News) - Entain PLC on Wednesday said it holds 95.9% of Enlabs AB shares following an extended acceptance period for its takeover offer, as it finalises the acquisition of the Swedish gambling company.
Entain first announced its offer for Enlabs in January. The acquisition will give the UK gambling firm a foothold in the fast-growing Baltic region, and present growth opportunities in the Nordic and Eastern European markets, Entain said at the time.
Entain in January named Jette Nygaard-Andersen as its new chief executive. The Danish media executive is the first female CEO of any major London-listed bookmaker.
FTSE 100-listed Entain offered SEK40 per share before raising its bid to SEK53 per share, valuing Enlabs at about GBP316 million.
Holders of 94.2% of shares had accepted the offer by March 22. A further 1.7% accepted it in an extended offer period which ended April 1. Entain will buy the remaining shares in a compulsory acquisition.
Entain shares were up 0.4% to 1,585.80 pence in London. The wider FTSE 100 index was up 0.7%.
By Ivan Edwards; [email protected]
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