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Sportsbook

US casino operator MGM ends its £8bn bid for Ladbrokes and Coral owner Entain

Monday 25 de January 2021 / 12:36

2 minutos de lectura

(United Kingdom).- Shares in Ladbrokes and Coral owner Entain slid after its US suitor backed away from a bid.

US casino operator MGM ends its £8bn bid for Ladbrokes and Coral owner Entain

The betting giant had been fighting off an £8billion offer from casino operator MGM Resorts, saying it 'significantly undervalued' Entain.


But investors who were hoping that MGM would come back with a higher offer were disappointed, as the Las Vegas company bailed out.


MGM said: 'After careful consideration and having reflected on the limited recent engagement between the respective companies regarding MGM's rejected all-stock proposal, it does not intend to submit a revised proposal and it will not make a firm offer for Entain.'




Categoría:Sportsbook

Tags: Sin tags

País: United Kingdom

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