Entain seeks to acquire remaining shares in Enlabs

Entain last week announced that it had completed its acquisition of the operator, with 94.2% of the shares and votes in Enlabs backing the deal.

During the extended acceptance period that expired on 1 April, the offer was accepted by a further 1.7% of Enlabs shareholders, thus increasing Entain’s overall holding to 95.9%.

Settlement of shares tendered during the extended acceptance period is due to occur on or around 13 April, with Entain confirming that it will not extend the acceptance period further.

Entain also acquired all warrants to purchase shares that Enlabs had issued, but not any shares or financial instruments that give a financial exposure to Enlabs shares outside the offer.

In relation to this, Entain has initiated a compulsory acquisition proceeding in respect of the remaining Enlabs shares it had not yet purchased.

Entain set out to acquire Enlabs in January with an offer of £250m (€290.3m/$344.9m), but this was later increased to £314.6m after Entain raised its acquisition share offer from SEK40 (£3.36/€3.91/$4.64) to SEK53 per share.