Entain increases the offer price to SEK 53 in cash per share in Enlabs
This announcement is not an offer, whether directly or indirectly, in Australia, Canada, Hong Kong, Japan, New Zealand or South Africa or in any other jurisdiction where such offer pursuant to legislation and regulations in such relevant jurisdiction would be prohibited by applicable law. Shareholders not resident in Sweden who wish to accept the Offer (as defined below) must make inquiries concerning applicable legislation and possible tax consequences. Shareholders should refer to the offer restrictions included in the section titled "Important information" at the end of this announcement and in the offer document which was published on 20 January 2021. Shareholders in the United States should also refer to the section titled "Special notice to shareholders in the United States" at the end of this announcement.
LONDON, March 1, 2021 /PRNewswire/ -- On 7 January 2021, Entain plc, through its wholly-owned subsidiary Bwin Holdings (Malta) Limited ("Entain"), announced a recommended public cash offer to the shareholders of Enlabs AB (publ) ("Enlabs") to tender all their Enlabs shares to Entain (the "Offer"). Entain has today decided to increase the price under the recommended Offer from SEK 40 per share to SEK 53 per share (the "Increased Offer Price"). The Increased Offer Price is final and will not be increased by Entain.
Rob Wood, CFO and deputy CEO of Entain plc comments:
"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. 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."