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UK – Entain ups Enlabs offer to £316m

Entain has increased its offer to acquire Enlabs from £250m to approximately £316m.

Enlabs has confirmed that a selection of shareholders who previously voiced their disappointment have now ‘provided irrevocable undertakings to Entain to accept the increased offer’, meaning those responsible for 51 per cent of the total number of shares are now backing the deal.

“As a world leader in sports betting and gaming entertainment, Entain’s ambition is to revolutionise betting and gaming to create the most exciting and trusted entertainment for every customer,” commented Rob Wood, CFO and deputy CEO of Entain.

“In a highly competitive and regulated industry, where consolidation is a key theme, Entain is able to provide the scale and platform needed to further support Enlabs’ long-term growth, and we firmly believe that Entain will be the best home for Enlabs, its employees and customers.

“Against this background, we have decided to make a final offer of SEK 53 to all shareholders, providing an opportunity to exit their investment at a very attractive valuation. We are pleased that shareholders with around 51 per cent have now irrevocably agreed to accept the offer and would urge other shareholders to do the same by 18 March.”