Sweden – Entain set to acquire Enlabs in AprilBy Lewis - 22 March 2021
Entain has completed the recommended public cash offer to the shareholders of Enlabs and extended the acceptance period.
On 7 January, Entain announced a public cash offer to the shareholders of Enlabs. On 1 March, Entain announced that it had decided to increase the offer from SEK 40 per share to SEK 53 per share.
The offer has been accepted by shareholders holding in total 65,856,834 shares, corresponding to approximately 94.2 per cent of the total number of shares and votes in Enlabs.
Settlement in respect of the Enlabs shares tendered no later than 18 March is expected to occur on or around 30 March.
Entain has decided to extend the acceptance period until 1 April to enable Enlabs shareholders who have not yet accepted the offer to accept. Settlement in respect of shares tendered during the extended acceptance period is expected to occur on or around 13 April.
Entain will not extend the acceptance period further and has said the company intends to initiate compulsory acquisition proceedings in respect of Enlabs shares not tendered in the offer, and to request that the Enlabs board applies for a delisting of the shares from Nasdaq First North Growth Market.