ENTAIN EXPECTS TO CLOSE ENLABS ACQUISITION IN APRIL

British gambling giant Entain has completed the recommended public cash offer to the shareholders of Baltic and Eastern Europe-focused gaming operator Enlabs, and extended the acceptance period. 

Currently shareholders owning around 94.2% of Enlabs shares have accepted Entain’s revised offer of SEK 53 per share – which replaced the company’s previously rejected offer of SEK 40 per share. 

It means the conditions required to complete the offer have been met, and the offer has been declared unconditional. Earlier this month, Entain received the necessary regulatory approval for the acquisition. 

Payment for the shares is now expected to take place on, or around, 30 March, with Entain extending the acceptance period until 1 April to allow the remaining shareholders to accept the deal. Given this, the acquisition is now expected to close around 13 April. 

Entain’s main offer does not cover warrants issued by Enlabs and acquired by employees under the company’s incentive program. Thus, Entain has also proposed a separate offer that would see it acquire them at a price equal to the see-through value of the warrants on the basis of the offer price. So far this offer has been accepted by the holders of 1.35M out of 1.4M warrants.