US casino operator MGM ends its £8bn bid for Ladbrokes and Coral owner Entain
Monday 25 de January 2021 / 12:36
⏱ 1 min read
(United Kingdom).- Shares in Ladbrokes and Coral owner Entain slid after its US suitor backed away from a bid.
The betting giant had been fighting off an £8billion offer from casino operator MGM Resorts, saying it 'significantly undervalued' Entain.
But investors who were hoping that MGM would come back with a higher offer were disappointed, as the Las Vegas company bailed out.
MGM said: 'After careful consideration and having reflected on the limited recent engagement between the respective companies regarding MGM's rejected all-stock proposal, it does not intend to submit a revised proposal and it will not make a firm offer for Entain.'
Categoría:Sportsbook
Tags: Sin tags
País: United Kingdom
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