Entain Made A Statement On The Proposal From Mgm Resorts International

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March 7, 2022
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Entain Made A Statement On The Proposal From Mgm Resorts International

The board of the entain plc, noting publications in the proposal from mgm resorts international ("mgmri"), its partner in the the the us market, regarding the possible purchase of entain.

Thus, it is reported that mgmri offered 0.6 shares of mgmri for each action entain. Based on the prices of closing the stock exchange on december 31, 2020, the mgmri offer is the cost of 1383 pens per share of entain and a premium in the amount of 22% to the share of entain shares. According to the proposal conditions, entain shareholders will belong to about 41.5% of the increased mgmri. Mgmri indicated that entain shareholders will also be available to a limited partial cash alternative.

Entain reported mgmri, which, according to their assessment, this proposal does not take into account the state and prospects of the company. The board of directors also requested additional information from mgmri with respect to the strategic justification for the combination of two companies.

Meanwhile, entain shareholders are recommended not to take any action, because there can be no confidence that any other or changed proposal will be done.

Since any suggestion for entain is governe and mergers in the uk, mgmri must no later than 17:00 on febrary 1, 2021 or report the hard intention to make an entain proposal in accordance with the code mentioned, or declare that it does not intend to do satence. This deadline can be extended only with the consent of entain.

Entain reminded that the application was made without consent or approval of mgm resorts international.

Source: entain plc official website

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