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,
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