January 21, 2021

Day: January 4, 2021

Entain, which owns the British gambling brand Ladbrokes, said Monday that it has received an £8.09 billion takeover proposal, equivalent to $11.06 billion, but said that offer significantly undervalues the company. MGM’s bid has the financial backing from its largest shareholder,

IAC/InterActiveCorp,


IAC 1.00%

according to people familiar with the matter, and comes after an earlier roughly $10 billion all-cash overture for Ladbrokes was rebuffed.

A combination could create one of the few large gaming companies in the world with a significant online and bricks-and-mortar presence. It would follow other recent consolidation in the industry.

Like its peers, MGM

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