Entain plc is set to acquire Enlabs AB. They are proposing a price of 53 Swedish Krona per share, which translates to approximately 4.48 pounds, 5.21 Euros, or 6.21 US dollars.
The majority of Enlabs AB’s stakeholders are pleased with the agreement, with 94.2% voting in favor.
Entain plc asserts they have all the necessary components to finalize the acquisition, and thus, they are making it official.
Those who sell their shares by March 18th will receive their funds around March 30th.
The agreement does not encompass special shares granted to Enlabs AB employees.
Entain plc extended an offer to purchase these special shares as well, and a majority of the employees accepted.
They are granting the remaining Enlabs AB shareholders until April 1st to decide whether they wish to sell their shares.
This indicates that the takeover is anticipated to be finalized around the 13th of April. Entain has stated that it will not extend the acceptance timeframe any further.
Entain initially proposed to take over Enlabs in January, offering to purchase the company for 40 Swedish kronor per share. The operator explained that the agreement would aid Enlabs in expanding into new territories such as Ukraine and Belarus. Comprehensive details of the proposal were disclosed later that month. Following this, in March, Entain enhanced its offer from 40 Swedish kronor to 53 Swedish kronor per share, after which the majority of Enlabs’ stakeholders endorsed the proposal. Currently, the operator intends to initiate a mandatory acquisition process involving Enlabs shares not subscribed to in the offer, and to request that the Enlabs board apply for removal from Nasdaq First North Growth Market.
Sign up for the iGaming newsletter.
