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Ladbrokes owner Entain confirms DraftKings offer
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Entain Plc on Tuesday confirmed that U.S. fantasy sports betting company DraftKings has made an offer to buy the British gambling firm in a deal that one media report said could be valued at $20 billion.
London-listed Entain's shares surged about 19% as it confirmed the offer, which will give the U.S. company access to Ladbrokes Poker and bwin online betting. Shares of DraftKings fell more than 6%.
The offer price is roughly 2,500 pence per share, according to CNBC's David Faber, representing a premium of about 30%. The deal will be largely in DraftKings stock along with a cash component, Faber added.