(RTTNews) – Entain has received proposals from MGM Resorts International regarding a possible offer for Entain. MGMRI would offer 0.6 MGMRI shares for each Entain share. Entain shareholders would own approximately 41.5% of the enlarged MGMRI. MGMRI indicated that a limited partial cash alternative would also be made available to Entain shareholders.
Entain said it has informed MGMRI that it believes that the proposal significantly undervalues the company.
Entain plc is a FTSE100 company and is one of the world’s largest sports-betting and gaming groups, operating both online and in the retail sector.